Headed into 2Q21, we believe cyclically sensitive sectors/regions are due for a breather while Gold stock leadership is set to resume. We remain positive on cyclicals, but recent strength & sentiment appear stretched. Conversely, Gold sentiment is turning increasingly negative just as our fundamental outlook is turning increasingly positive.
1Q21 Review & Strategy Update
- Patrick B. Rien, CFA
- April 7, 2021
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Truth
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Critical & objective evaluation of our positions to reach beyond the standard.