Investor Talk, Released on 7/25/24

The US stock market is rushing from one high to the next, but the rise is only being driven by a few stocks, which has led to a concentration not seen in 150 years. The Dow Jones Transportation Index does not confirm this rise, but further gains are possible. Melt-up bull market? There are analysts, as in 2000, who claim that this time there is no threat of recession because of the sharp interest rate hikes. Ed Yardeni is positive about the markets because of the shift to technology. Or is it simply the glut of money? Gold remains in demand in this environment, just not in the West. According to Citibank, China will buy 47% of the world’s gold production this year. With the weakening of the dollar and the growing importance of the BRICS, the demand for gold is increasing, which according to Egon von Greyerz should lead to a multiplication of the gold price in the next few years. Shock-like movements cannot be ruled out either.

0:00 Intro
1:45 The US stock market is more concentrated than it has been in 150 years
2:25 The 5 largest stocks in the S&P 500 account for 29% of the market value
3:30 Stocks are supported by money printing
4:30 The Dow Jones Transportation Index does not confirm the bull market
5:55 Reasons are sought as to why no recession is imminent this time, e.g. from Ed Yardeni
8:00 Is technology changing everything or is 2000 repeating itself?
10:30 Even a surge in the Dow Jones to around 45,000 points seems possible
11:05 The FED softens its stance on inflation
12:25 Interest rates are on an upward trend and will continue to rise with inflation
13:30 According to Citibank, China will absorb 47% of global gold production in 2024
14:30 Gold demand remains weak in the West
15:40 Strong gold demand is still expected from central banks exchanging dollars for gold
16:30 Gold expects a fundamental revaluation
18:40 The percentage share of gold in total and financial assets remains low
20:30 Over the years, the dollar will be increasingly replaced by gold

Egon von Greyerz is founder and Managing Partner of Von Greyerz (formerly Matterhorn Asset Management AG & GoldSwitzerland). Since the 1990s Egon von Greyerz has been actively involved with financial investment activities including mergers and acquisitions and asset allocation consultancy for private family funds. This led to the creation of Matterhorn Asset Management, an asset management company based on wealth preservation principles. MAM is part of the Aquila Group, Switzerland’s largest independent asset management group. Von Greyerz makes regular media appearances on CNBC, BBC, etc. and publishes articles on the world economy and wealth preservation.

  gold