Tony Pasquariello: Suggest simplifying US stock positions, optimistic about the long-term value of gold allocation
Tony Pasquariello, head of hedge fund business at Goldman Sachs, said that the difficulty of operating the US stock market is extremely high, and suggested simplifying the investment portfolio. He is optimistic about the long-term allocation value of gold, believing that gold prices will receive support around $4000, and the global government debt burden will support the long-term logic. In terms of AI, the related credit supply reached $489 billion this year, and the market needs to confirm whether capital expenditures can be converted into revenue growth. In addition, with expectations of a Federal Reserve interest rate hike and intensified volatility in the US stock market due to the situation in Iran, Brent crude oil has risen 33% this month, and stock buybacks are expected to accelerate in August.