Behind The Markets Podcast: Trevor Greetham
Behind the Markets Podcast
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Commodities and the Investment Clock
I've been working on ways of relating asset allocation to the business cycle since the mid-90s and I call this thing the investment clock. What we do is we track growth and inflation indicators every month to work out where we are in that clock. And all of last year, we were in stagflation; over the last three or four months, inflation indicators have dropped dramatically. That means we've moved from stagflation around to what I call reflation, which is where bonds are doing better and central banks should actually be thinking about easing. We'd say more reliably in stagflation, you want to be defensive out of stocks, out of bonds in cash,. Which last year would have
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