The US may have long reigned supreme as world economic leader but perhaps times are changing in more ways than one. It’s a rare (and even brave) decision to take a bet against Uncle Sam, but that’s the position that contrarian fund managers Platinum Asset Management (ASX: PTM) have found.
Crowding by investors into defensive stocks means they cease to be defensive, according to Platinum, but certain global consumers stocks still look attractive.
Print
The temperature was rising into the 80s and the humidity was making things damp. But Lola Binns smiled broadly while waiting for the music to start at She Fest, the woman-oriented street fair in Hillcrest that kicked off San Diego Pride week festivities Saturday.
“My mood is way up,” said Binns, a San Diego hairdresser. “Last summer was like that horror movie, ‘Quarantine.’ Everyone was scared and wearing masks.”
Optimism was easy to find on the eve of Sunday’s Resilient Community March, which is expected to draw upwards of 10,000 people who will make their way from Balboa Park to Hillcrest during the largest event in Pride week. The march is being held instead of the traditional parade this year.