This summer, our view on global equity markets has turned negative, and as a result the equity portion of our portfolio is now in cash. We are patiently waiting for valuations to become more reasonable before coming back in.
Opportunities in the Oil Sector
As contrarian investors, it is our view that bear markets are great opportunities to buy selected high value names. In the past year, oil has fallen by more than 50%, with bond and stock prices of oil related companies plummeting.