Would think consumer staples would go down if we enter a recession. Does that mean you don't think a recession is coming?
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What's your highest conviction investment right now?
On the risk side, my highest-conviction position is a large-cap consumer staples name. By 'highest conviction' I mean the largest single position as a % of AUM. As a group, precious metals and miners would be highest conviction but that's not a single name.
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Solid push-back, I started thinking we are in a recession all the way back in 2024 and still think U.S. economy is in a recession. It's worthwhile to note the textbook definition; i.e. two or three quarters of negative G.D.P. I have my own criticism of that definition. For examβ¦