Goldman Strategist Favors Gold, Silver, and Bitcoin as ‘Stores-of-Value’ Amid Market Swings
Main Idea
Goldman Sachs strategist Tony Pasquariello recommends a portfolio strategy favoring U.S. tech stocks and 'stores-of-value' assets like gold, silver, and Bitcoin to hedge against market risks in the second half of 2025.
Key Points
1. Pasquariello's strategy includes four pillars: long U.S. equities (tech-biased), long gold/silver/Bitcoin, short the U.S. dollar modestly, and long global curve steepeners.
2. Gold, silver, and Bitcoin are positioned as hedges within a 'long, with a hedge' approach to navigate economic uncertainties, including slowing job growth.
3. Despite near-term challenges like August consolidation and tricky September technicals, Pasquariello remains bullish on U.S. equities, especially tech stocks driving earnings growth.
4. The strategy emphasizes monitoring the U.S. labor market slowdown and positioning risks to adapt to current conditions.
Description
Goldman Sachs’ Tony Pasquariello maintains a core portfolio strategy favoring U.S. tech stocks, traditional and digital “stores-of-value” like bitcoin, a modest dollar short, and global curve steepeners despite recent market volatility. Goldman Hedge Fund Chief Sees 3 ‘Stores-of-Value’ Holding Key Role in Portfolio Mix According to Pasquariello’s insights shared by Zerohedge, the global head of
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