Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Asian Hedge Fund manager with more than 20 years experience managing Asian Long/Short Equity funds.  Macroeconomic top down analysis generating thematic investments which are further researched from bottom up.  Research is supplemented with advanced technical analysis.

False Breakouts and Breakdowns - The Nikkei, Gold, Copper and the JPY

Stella International: A Beneficiary of Reshoring

Thematic (Sector/Industry)

United states Materials / Thematic (Sector/Industry)

<ul>
<li>Gold's price advance is idiosyncratic moving against historical norms of estimated inflation and real rates.</li>
<li>Demand from large central banks is not currently a factor in price discovery as the PBOC has stopped buying.  Gold's safe-haven status has also declined since GFC in 2008/09. </li>
<li>Easier monetary policy from the Fed and higher actual inflation continue to fuel lower real rates and provide substantial support for Gold's price.  </li>
</ul>


Gold's price advance is idiosyncratic moving against historical norms of estimated inflation and real rates.
Demand from large central banks is not currently a factor in price discovery as the PBOC has stopped buying.  Gold's safe-haven status has also declined since GFC in 2008/09. 
Easier monetary policy from the Fed and higher actual inflation continue to fuel lower real rates and provide substantial support for Gold's price.   


GOLD: Rocks Or Stocks! Why Gold Continues to Outperform the S&P?