Natural resources are ignored and forgotten, but their time has come says Tavi Costa of Crescast Capital.
That might give some pause about natural resources, often scooped up by that global growth engine. But our call of the day from Tavi Costa, portfolio manager at Crescat Capital, says investors should be allocating capital toward those assets that have been long undervalued against equities and fixed income.That might give some pause about natural resources, often scooped up by that global growth engine.
The first way to play that is via Brazil, whose stocks have “drastically” underperformed against the U.S. since the global financial crisis, he says. “Think about Brazil itself. It’s exposed to any commodity you can think of — agricultural commodities from mining and metal, energy…so it’s certainly one of the most commodity-led economies you can find today,” says Costa.
Lastly, the manager says go bullish on gold GC00 , which has clearly not been a huge investor favorite the past three years. He believes gold should be muscling in on that traditional 60% stocks/40% bond portfolio set up. The buzz China worries are front and center, with Hong Kong stocks HSI sliding 3% as banks tumbled. A note from Goldman Sachs discussed “low expectations for policy easing and structural reforms this year” from local investors, despite economic slowdown worries.
Spirit Airlines SAVE is up afterJetBlue JBLU said it was ending its joint venture with American Airlines AAL in the Northeast U.S. to get its Spirit merger completed.
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