I will be tied up over the next couple of days juggling fund reports, emails, calls with partners, and some tasks with the dealing team. Meanwhile, the markets refuse to take a break. Gold is on fire, stocks keep inching toward new highs, and everyone seems to be learning how to live with the high-octane uncertainty coming out of Washington’s policy acrobatics.
Depending on who you listen to, gold’s record-breaking run is being credited to everything from growing confidence in a Fed rate cut and rising global uncertainty to tariff-induced anxiety. Some reports also note that US dollar weakness added fuel to gold’s safe-haven appeal. With the yellow metal at an all-time high, the jewellery-obsessed may need deeper pockets or a good therapist to talk them out of it.
Yeah, the animal spirits are more than alive and well and they are as frenzied as ever. This morning, I took half of our profits on our aggressive model portfolio, a simple exercise in discipline and risk management.
Despite the profit-taking, the portfolio is still up over +50% since January. One client jokingly dubbed me “one of the biggest bulls on Wall Street,” but I’m not here to brag about the returns. Some of these trades are definitely not for the faint-hearted, but it takes real strength and discipline to know when to step back, take a little off the table, and let the rest run.