I am en route to flooring store so this will be brief.
We are in a recession. The stocks you want to own are consumer staples and drugs. I am talking wholesale drugs like CAH and ABC. You want to be long groceries via SYY and KR. And, as crazy as it sounds, you want to be long utilities and oil — up until the oil sector implodes. Eventually everything will wash away and inflation will be stymied with DEBILITATING DEFLATION. But we are not there yet.
Also, and this is noteworthy, GOLD IS A SUPER SAFE HAVEN. Forget about SHITCOINS. Peter Schiff was right all along.
My portfolio into the weekend is as follows:
11% cash.
HAGW.
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FXI barely paused with today’s meltdown.
Later this year when brrrr resumes in earnest, stocks, real estate, gold and crypto will tank.
Later, gold and especially crypto will uncorrolate aggressively north. Wait for it!
Schiff said the same when gold and crypto were at $1,200.