Why Gold Stopped Being a Commodity (AllianceBernstein’s Inigo Fraser Jenkins) | #649
About this episode
Inigo Fraser Jenkins discusses the changing role of gold in investment portfolios and the implications of US equity exceptionalism.
Today’s guest is Inigo Fraser Jenkins, Chief Investment Strategist at AllianceBernstein. In today’s episode, Inigo argues that the golden era of easy diversification and high real returns is ending. He defends US equity exceptionalism while declining to defend the dollar. To close, he makes the case for gold and explains why bonds may no longer diversify equities. (0:00) Starts (0:54) Is US exceptionalism dead? (10:27) US vs. foreign profit margins (15:12) Diversifying beyond 60/40 (21:05) Gold is money and the role it plays in portfolios (33:08) Higher expected future inflation (35:26) The bull case for healthcare (39:24) Inflation volatility and commodity demand (42:38) AI's impact on the labor market ----- Sponsors: Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. Upwork is the world's largest human and AI-powered freelance marketplace to hire top talent—trusted by businesses and professionals worldwide. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click…
Sponsors
Farmland LP, Upwork
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