Presidential candidate Joe Biden chose Kamala Harris as his vice president
Chief Investment Officer
Summary: The choice of vice president is a safe-bet by Biden but also giving his campaign solid staying power and intellect. Kamala Harris is real person with CV to back it up.
Impact: This is important – More than 90% of all clients I talk to believe Trump will prevail – 90%. The gap between the official polls and the opinion of investors is the largest I have ever seen in my career, leaving the door open for massive “shift” in sentiment as we get closer to election day.
How: Less than 100 days to November election - be long volatility in any product.
Gold: See my piece from yesterday. Gold and all other leveraged markets is harmed by lack of liquidity on the bids, due to massive over-leverage and no cash cushion among investors, making these moves exponentially bigger than they should in orderly and price discovery-driven normal markets. (More on this in the interview I did with CNBC yesterday)
Biden decided on Kamala Harris as his VP – in my non-informed opinion this significantly increase the chances of Biden getting to the White House.
Kamala Harris is as tough as they get. Her background privately and professionally is formed by standing-tall and by being tested - and most important - always coming from behind. She is as real as Trump/Pence and Biden are flaky.
Background - see this behind the person clip from CNN:
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.
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