Here is another gold bull, not so much for equites


A positive view on gold from State Street via bbg Bloomberg 

  • Gold a great asset to hedge investment risks now
  • we have some hedges in gold

Contrasts the bull gold view with a less sanguine outlook for equities:

  • At the moment, we are a little underweight in equities
  • “Investors are often accused for being very short term, but when I look at the equity markets, the valuations and the absence of guidance, you can say that they are looking well into the future” 
  • “For an equity valuation perspective, you have to set for yourself some sort of benchmark, post-pandemic earnings level, and you’re uncertain how fast you will get there.” 

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