For the United States, the passing of last week’s Bradley Date has reinforced the existing trend. Markets have continued higher, led by the beneficiaries and themes noted above: primarily, the technology companies whose products have permitted many businesses and individuals to function, even to thrive, in the midst of the profound disruption caused by the pandemic and the government’s response to it. Although the mega-cap tech names are leading indexes higher and capturing an unprecedented portion of the total U.S. market capitalization, investors can still profit from looking under the hood for thematic opportunities beyond FAAMG — as long as they are at the intersection of the desirable themes.
We know that many of our readers are interested followers of stock markets whose primary investment exposure is to other asset classes, particularly to real estate. We hope that our observations above will prompt reflection on the ways in which the world may be changing that could impact your portfolios in coming years.
And of course, we continue to believe that both stock-market and real-estate investors who have not thought about the utility of precious metals in their portfolios should do so sooner rather than later.
Thanks for listening; we welcome your calls and questions.
