1.Defensives Deep Discount
Defensives are unloved, underowned, and undervalued -- as they usually are in the later stages of a raging bull market...
$.SPX(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$
2.Gold Returns in Perspective
2024 was the 9th highest annual return for Gold in US$ since 1971
Interesting thing aside from how high some of the historical returns were is how you tend to see clustering... $Gold - main 2502(GCmain)$
3.Are you a victim or victor of the Cycle?
I would say around the turn of the year we were sitting right in Euphoria, but things have clearly shifted lately.
Question probably is though have we moved forward into anxiety and denial? or did we merely reset backwards into a more muted if cautious optimism...
4.The Global Equities "Relative Value Trinity" is likely to become one of the most important charts to watch this year and beyond:
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