Monday, July 15, 2013

Gary Shilling position update 2013

With the fog still thick, we’ve raised cash by reducing our long positions on Treasury bonds and Japanese stocks and have cut our yen shorts. We’ve also reduced our short euro-currency exposure and dollar index long positions.

Our long positions on U.S. defensive stocks like utilities and health care remain intact but we’ve added to our short position on junk bonds and initiated shorts on emerging market stocks and bonds.”

Monday, July 8, 2013

Gary Shilling 5 Investment themes

Gary Shilling 5 Investment themes

1. Treasury bonds.

2. Investment-grade bonds and divined-rich stocks.

3. Consumer staples and food stocks.

4. Selected healthcare provider equities and direct ownership of medical office buildings.

5. The dollar, especially against the yen, euro, and the Australian dollar. Also long Japanese stocks.

Tuesday, July 2, 2013

Short stocks and commodities, long the dollar and Treasuries

Short stocks and commodities, long the dollar and Treasuries. Yes, the Fed’s recent statements mean Treasuries and other high-quality bonds have been trashed along with developed and developing country stocks, junk and emerging market bonds.

Nevertheless, if stocks continue to decline, the safety of Treasuries and investment-grade bonds will probably outweigh concerns about the end of quantitative easing. Then the “risk-off” quartet will be fully in place.