Asset Allocators' Soapbox: How a fistful of dollars can turn good, bad and ugly

Between 1964 and 1966, film director Sergio Leone was famous for his Spaghetti Western trilogies, the three most famous of which (probably) were A Fistful of Dollars, For A Few Dollars More and The Good, The Bad And The Ugly, all starring a young Clint Eastwood. What have Spaghetti Westerns and financial markets got in common, you may ask? Well, some 50 years later – and not for the first time – we have entered a period whereby owning a fistful of dollars has been a rewarding thing, especially if an investor has had a meaningful asset allocation towards the dollar, US equities and treasu...