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.”