Real Vision: Finance & Investing
#946 - Restrictive for Longer? With Tavi Costa
Jan 4, 2024
Macro strategist Tavi Costa discusses potential bubbles in hard assets, fiscal dominance, and investment opportunities in emerging markets. He analyzes the growth potential of various commodities and suggests considering hard assets for long-term investments.
35:02
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Quick takeaways
- Tavi Costa advises focusing on hard assets and value stocks, expecting a repeat of the market structure in 2022.
- Costa expresses a bearish view on technology stocks, favoring small caps and hard assets over expensive technology stocks.
Deep dives
Focus on Hard Assets and Value Stocks in 2024
As we enter 2024, macro strategist Tavi Costa emphasizes the importance of focusing on hard assets and value stocks. He believes that the market structure of 2022, where value stocks outperformed growth stocks, is likely to repeat itself. Costa expects the treasury market to continue experiencing higher volatility and yields across the yield curve. He highlights the potential for the steepening of the yield curve, especially in a stagflationary or deflationary crisis. Costa remains focused on niche areas of the market, such as metals and mining, where he sees significant opportunities. Additionally, he identifies emerging markets, particularly those with resource exposure, as a trend to watch in 2024.
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