Nov. 22 at 11:28 AM
$SPY
This article was written in April 2025
It rings even more true today based on evaluations.
Howard Marks, Stanley Druckenmiller and strategists at Goldman Sachs says it’s coming.
“A Lost Decade”.
For several years I’ve been suggesting that accumulating miners, emerging markets, energy and bonds would ultimately beat the market mid to long term.
I haven’t changed my stance at all.
Miners
$B have officially broken out of a 20 year bottom.
Emerging Markets have been firming up for several years with more upside ahead.
$EWZ
Historically low evaluations as well versus the SPY.
Energy will outperform during a lost decade.
$XOP
Bonds/Bond Funds/Fixed income
$DLY
I will continue executing my plan into mid 2026.
Remaining overweight commodities, energy, bonds and will add in some emerging markets.
https://blogs.cfainstitute.org/investor/2025/04/02/market-concentration-and-lost-decades/