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Are priced now we've got a money manager who says it's time for investors.
-- -- look at levels at the moment they should step back from stocks this guy is 80%.
In commodities but not buying all of them right now Spencer patent.
Is chief investment officer with steel mining investment Spencer great to see you again -- -- Now 80% of -- you've you've proven right so far but is it time for you.
You personal it is step back and take some profits.
To sell off of some of the commodities you have.
I think that there's definitely room for some profit taking here one of the areas that I would go ahead and get out of immediately would be crude oil.
We've seen a wonderful run up to me we were talking last when crude oil was at nine near 95 dollars a barrel we've had almost a 20% move when -- got up to 110 dollars a barrel.
It's time to take some profits and a lot of the commodity space and especially the equity space and we've run up almost 30% from the October lows.
I history shows that this is not a good time to buy after this run up it's definitely time to take some -- Well let me play devil's advocate -- why would you be so bullish on gold I mean gold just had an incredible run up and continues to go higher and higher -- it had a big move.
Double digits and I'm just wondering what why is is oil held to a different standard and stocks as well what we've just to thirteen thousand.
Right I would definitely be buying gold here that the store with gold is that you really win either way if we end up getting an economy that goes back into a recession you're gonna see the Fed and ECB decide to -- like never before they -- determined that this market is not going to go lower.
That's bullish for gold if we end up getting a market that moves higher you're gonna see money flow into this market is a risk on trade and you'll see gold appreciate and that side because we're gonna be moving more towards inflation as all this money comes off corporate balance sheets.
Gold is acting well on the technical charts we're seeing a break out on the upside we're seeing large purchases from from country is starting to get into gold.
It's definitely -- asset class to -- and I think -- be above 2000 by the in the summer that's the place to be.
I'm just wondering exactly how you buy it for those and by the way we have somebody coming up after you -- gonna say oil is the place to invest -- may go up to 125.
But US so US oil fund is that the place to -- as you look at a five year chart for all of the wild variations in the price of oil.
Look at a five year chart of USO and you'll see a -- Steady marker there it it doesn't react is as crazy as as the price of -- does there's a five year look at how steady it's been.
For the past three or four of those years.
Right I would probably looking more towards something like an ExxonMobil I I really love the dividend ExxonMobil plays are like their exposure to a lot of different geopolitical areas.
You have good upside exposure if you do get a spike in oil price but you also have some real stability there of that that a US so is not necessarily gonna provide deal.
But I I'm fearful of oil here I mean we have at least fifteen dollars of geo political risk factored in for my -- Where if we get some type of resolution to where they're willing to go back in the talks you could see oil dropped ten dollars and a single day.
-- there's a lot of leverage right now so maybe if if you get a geo political event you can see a 125 dollars but I think that that's less than a 10% probability of happening so I think that you take some great profits here.
Consumers probably like that certainly -- Spencer by the way he -- doesn't 20% of equities until this name's apple and Microsoft Microsoft to to 52 week high today so not that.
Annapolis setting yourself not bet on both accounts thank you very much Spencer very good to -- again -- -- well.
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