Felix Zulauf, renowned macro investor and CEO of Zulauf Consulting, returns to Forward Guidance to apply his framework for understanding markets to make several big calls for 2024 and beyond. Zulauf expects the rally in stocks and bonds to continue to Q1 2024, but then he argues both will struggle as the liquidity cycle enters its final phase. FIlmed on December 5, 2023.
More info about Zulauf Consulting can be found here: www.felixzulauf.com
Felix Zulauf is the Founder and CEO of Zulauf Consulting, a boutique research and consulting firm that offers investment advisory services to institutional investors and family offices. Felix has over 40 years of experience in financial markets and asset management and has served as a member of the Barron’s Roundtable for 30 years. He started as a trader with Swiss Bank Corporation in the early 1970’s and received training in research and portfolio management thereafter with several investment banks in New York, Zurich, and Paris. Mr. Zulauf joined UBS in 1977 as a Portfolio Manager of global mutual funds and became Global Strategist of UBS in 1982 and the head of the institutional portfolio management group in 1986. Felix served as a member of the Executive Board of Clariden Bank from 1988-1990 and founded Zulauf Asset Management AG in 1990, a Swiss-based asset management company. Mr. Zulauf sold the majority of the firm and spun off a Family Office in 2009.
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Timestamps:
00:00 Introduction
00:13 Counter-Trend Rally In Bonds May Continue, But The Bond Bear Market Likely Isn't Over
12:47 Magnificent 7 Stocks Are "Excessively Overpriced
29:31 Transition To Bear Market
35:25 Has U.S Economy Dodged A Recession?
37:23 Some Economic Statistics Could Not Be Accurate To Reality
40:27 Will Inflation Reaccelerate
42:01 Geopolitical Risk Is Not Being Taken Seriously By The Market
46:07 U.S.-China Relations
50:34 Waiting On China's Economic Recovery
53:53 Will Bull Market In Japanese Stocks Continue?
56:34 Tactical Bullish View On U.S. Dollar Relative To Some Other Currencies
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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