Should you fade cyclicals and inflation sensitive assets?
For some time, our view has been that the economy is accelerating (which bodes well for inflation sensitive assets, cyclicals, and small & mid-cap stocks), bonds will struggle, investors should be overweight stocks, etc. From my vantage point, Astoria has been on the forefront advising our clients (dating back to Q3/Q4 last year) to do the following: Allocate a portion of their assets to cyclicals and inflation sensitive assets to hedge portfolios (inflation hedges were cheap
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