The assets set to benefit in the years ahead may not be those investors expect, writes Christian Gattiker-Ericsson, chief strategist and head of research at Bank Julius Baer.
Central banks in the US, Europe and Japan are still as – but not quite as – generous with their wallets and printing presses as last year, meaning risk assets are decently supported. However, the bald fact is they will not yield the strong returns we saw in 2013. Investors should seek out distinctive themes instead: from Asian tourism to smartphones and water. Sobering up What a difference a quarter can make. Investors seemed euphoric at the beginning of 2014 but started sobering in the second quarter. Economic recovery was underway through the first quarter, although visibility was l...
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