extract: In a letter to investors, hedge fund firm Crescat Capital said the stage is set for a massive investor shift out of overvalued megacap growth funds and fixed income securities, and into undervalued materials, energy and other commodities. It said if it could only focus on one chart for the next three to five years, it would be of the commodities-to-equities ratio. “The opportunity for buying gold stocks and selling overvalued large cap growth stocks appears like 1972. In just two years in 1973-74, the S&P 500SPX,-2.45%declined 50% while gold stocks increased fivefold,” it said.
RRL Price at posting:
$3.05 Sentiment: Buy Disclosure: Held
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