TD Ameritrade Network – Livermore’s David Neuhauser and his outlook for markets. “It’s a Tale of Two Cities”
Q3 2020 hedge fund letters, conferences and more
Livermore's Founder David Neuhauser: It's a Tale of Two Cities
To Partners and Friends:
Markets and gold continue to hold their range and the world remains extremely fragile with a second wave of COVID presenting renewed stay at home orders and limited travel.
Tech has been the trade of the year although some of the "fluff" seems to be unwinding. Our focus today, deep value assets tied to short US Dollar exposure, centers on commodities such as gold, copper, and oil.
Of course, we implement this through specific investments in small cap companies which offer tremendous upside once catalysts occur.
2020 has been the most difficult year owning assets tied to energy. Although that should change with vaccine implementation and optimism that normalcy is not so far way. Today's positive news on Moderna's vaccine results coupled with Pfizer last week is refreshing. The key now will be timing to approval and distribution as well as efficacy under daily life movement (without wearing masks).
Here is a link to our interview last week with Oliver Renick of the TD Ameritrade Network. We continue to discuss inflation and owning gold assets. Given the path forward seems ripe for both to accelerate meaningfully higher.
Watch the video here.
What do you think about gold and the broader markets? tell us by sounding off in our comments section.
