We like industrial and travel recovery plays for the longer term. We remain bullish on the U.S., India, China, Japan, and Korea.
We are watching Europe, but are not yet involved.
Within all of these markets we continue to think good-quality tech companies can be bought on substantial corrections — which they are in the process of getting. We also like the idea that travel, leisure, entertainment and cyclical industrial stocks will all be benefited by the reopening of the economy of the U.S. and the world, probably starting fairly soon and accelerating throughout 2021.
Gold and Bitcoin remain interesting to us; we think that inflation will begin to return within a couple of years. Among the wise pundits on gold, our old friend Jim Sinclair remains staunchly bullish and we believe that with a return of inflation within a few years, gold has potential to move higher.
Gold will be a great beneficiary of inflation, and Bitcoin will be a beneficiary of further adoption by major financial services companies, banks, and other financial institutions around the world.
Thanks for listening; we welcome your calls and questions.
