Email of the day (1)
Comment of the Day

October 29 2010

Commentary by David Fuller

Email of the day (1)

On Fullermoney themes, from a new subscriber:
There are continual references to the "Fullermoney Themes', but I cannot find them articulated and summarized in any one place. Can you direct me to where I might be able to better acquaint myself with these investment themes. Thanks.

David Fuller's view Welcome to Fullermoney.

Yes, since at least 2003 we have had several secular investment themes which Eoin and I particularly favour. In familiarising yourself with the site, the Archive 'Search' facility (shown upper left, fourth item down) currently produces 163 results under 'fullermoney themes'. Most are brief references but you will also find many more detailed comments.

You will also find them in 'Presentations', upper left, ninth item down. I plan to record an Audio to accompany my recent presentation on 'Two Different Worlds'. This should be available before the end of next week.

Among stock markets, Fullermoney's favourite secular investment themes since 2003 have been Asian-led emerging (progressing) markets, South American-led resources markets, information technology and global infrastructure development. This year we have also strongly favoured multinational high-yielding equities that are leveraged to Asian-led growth.

Precious metals have been a strongly favoured secular theme since 2001 and industrial commodities since 2003. Agricultural commodities are more cyclical, subject to crop cycles, but have been strongly favoured in recent months.

Among currencies we have preferred those of the world's stronger economies in this current environment.

We anticipate a secular bear market in government long-dated debt for OECD countries.

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