How to Build a Great Macro Portfolio

There’s “something going on” with gold. [Read Online]( [Global Macro Update] [Global Macro Update] How to Build a Great Macro Portfolio By Ed D'Agostino | April 19, 2024 [Ed D'Agostino] Gold has continued to reach new highs since I wrote about it a couple of weeks ago. Demand isn’t coming from individual investors. It’s coming from central banks, particularly China’s. Nick Glinsman, my guest today on Global Macro Update, adds a twist. He says, “Gold, there's something going on, and I think that something going on is with the Chinese accent. I don't necessarily think it's a central bank directly, but I think it's the central bank combined with some of their big domestic accounts going all-in and buying gold nonstop.” [ShareÂ]( He goes on to share his concerns about GLD and his preferred method for holding gold. Nick is the cofounder of Malmgren Glinsman Partners, with legendary economist and presidential advisor Harald Malmgren, and a renowned macro portfolio manager in his own right, with stints at Brevan Howard and Armajaro. In the interview, we discuss the bifurcation of global commodity markets, particularly oil, along an East-West divide. Nick shares why he’s bullish on uranium, why the European Central Bank can and should diverge from the Fed and cut rates, and what’s driving the shortage in rare earths. Nick highlights actionable ways to build all this into a macro portfolio, including where he holds cash. Turns out, we share a favorite oil play, too. Watch my conversation with Nick Glinsman by clicking the image above. A full transcript of our discussion is available [here](. You can access Nick and Harald Malmgren’s excellent research [here](. Learn more about my preferred source for precious metals [here](. [ShareÂ]( Thanks for reading and watching. [Ed D'Agostino] [Ed D'Agostino] Ed D'Agostino Publisher & COO Mauldin Economics Suggested Reading... [Virtual Passes available here](  [Crisis Cycle Investing]( Don't let friends miss this timely insight— share it with your network now. Share Your Thoughts on This Article [Post a Comment]( Keep up with Mauldin Economics on the go. Download the App [Get it on Google Play]( [Download on the App Store]( [ Did someone forward this letter to you? [Click here to get]( Global Macro Update in your inbox every Friday. [Read important disclosures here.]( YOUR USE OF THESE MATERIALS IS SUBJECT TO THE TERMS OF THESE DISCLOSURES. --------------------------------------------------------------- This email was sent as part of your subscription to Global Macro Update. [To update your email preferences click here.]( Mauldin Economics | 1417 Sadler Road, PMB 415 | Fernandina Beach, FL 32034 Copyright © 2024 Mauldin Economics. All Rights Reserved.