- Gold and silver
- Energy exposure, especially oil and the drillers
- Canadian dollar denominated corporate bonds
- Hybrids with oil/gas paper content and a running yield that exceeds U.S. Treasuries
- Hedge funds that hedge — relative value trades
- Emerging debt and equity markets, selectively — value has opened up recently
- Japanese equities for value too ... recession is already priced in • Staples over cyclicals; strong balance sheets over weak; large caps over
- small caps
- Various muni bonds — states in areas where the economic base is linked to energy and food such as Texas, Kansas, Iowa, and Missouri — what Meredith Whitney dubs “the emerging markets of the U.S.A.”
Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich