Capital manager David Hay of Evergreen Gavekal returns for Part 2 of our interview with him to discuss the odds for stagflation, recession and to share which assets he most favors right now given his macro outlook.
As we head into the heat of summer, the US economy finds itself in the doldrums.
GDP growth for the year has been negative both in Q1 and Q2 — which means we’re now officially in a “technical recession”
Inflation remains at a 41-year high. The financial markets continue to suffer one of their worst years so far in history. And now the housing and jobs markets are also cooling fast.
What can we expect from the secondhalf of the year?
For perspective, we turn to David Hay, co-founder & co-Chief Investment Officer of Evergreen Gavekal, a financial advisory firm managing $3.5 billion of investor capital.
As its steward, he can’t simply rely on an “opinion”; has to steer this capital safely through what’s coming next. So his conviction needs to be as high as possible.