EVENTS:   Trump's Capitulation to China - What to Infer? - David Woo/David Woo Unbound - 21 May 25     ROADSHOWS: US TMT Policy - Robert Kaminski /Capital Alpha Partners   •   London   19 - 21 May 25       L/S US Retail and Consumer Staples Ideas - Brian McGough & Daniel Bilosi /Hedgeye   •   London   19 - 23 May 25       US Healthcare Policy - Kim Monk & Rob Smith /Capital Alpha Partners   •   London   20 - 22 May 25      

Beat the Bear Market

Belkin Report

Tue 29 Apr 2025 - 16:00 BST / 11:00 ET

Topics

Financial markets are tearing down shibboleths. Deeply-held beliefs about investing are crumbling one by one

* The dollar. The dollar has now completely reversed and is back to the 98 level, only slightly below its pre-election level

* AI. The NYFANG index peaked on Jan 6, 2025 at 150 and is now 95, down -37%

* China. US hedge fund and retail investors loved Chinese stocks early this year. But the FXI is now down -18% from its March peak

* Gold. The belief that gold is a bad investment is a shibboleth, what are they thinking?

Belkin's downside targets for stock indexes are significantly lower. Sell and short into brief rallies and get defensive.