- I believe we are on the cusp of a multi-year reversal in global equity performance, with international, resource, and value stocks set to dramatically outperform U.S. stocks.
- U.S. equity outperformance over recent years has primarily been due to the increase in price investors have been willing to pay for U.S. dividends, which is likely to reverse.
- After turning net short global equities in August, I have shifted back to a net long stance due to increased bets on mining stocks and new positions in Chinese stocks.
For further details see:
Portfolio Update: Betting Against The U.S.