Michael A. Gayed, CFA, is chief investment strategist and co-portfolio manager at Pension Partners, LLC., an investment advisor which manages a mutual fund and separate accounts according to its ATAC (Accelerated Time and Capital) strategies focused on inflation rotation.
Prior to this role, Gayed served as a portfolio manager for a large international investment group, trading long/short investment ideas in an effort to capture excess returns. From 2004 to 2008, Gayed was a strategist at AmeriCap Advisers LLC, a registered investment advisory firm that managed equity portfolios for large institutional clients. In 2007, he launched his own long/short hedge fund, using various trading strategies focused on taking .ore advantage of stock market anomalies. Follow him on Twitter @pensionpartners and YouTube youtube.com/pensionpartners.
Be careful nouveaux bulls, risk-off is real and it's here.
Is the currency market anticipating China stimulus?
Despite the recent Fed actions, the yen has not yet broken down -- so caution remains warranted.
Price is disagreeing with logic in a world of unlimited money-printing and forced reflation.
The structural reform in India appears real, and a rally is already under way.
We'll soon see if the 'risk-on' market can persist.
It appears likely the dollar will continue hemorrhaging in favor of overseas reflationary plays.
The pound/euro trade will likely collapse as the ECB mitigates risk.
Given recent developments, it’s now certainly possible that new 2012 highs could materialize here.