Matterhorn Asset Management

HOW TO SURVIVE AND PROSPER IN A STAGFLATIONARY ENVIRONMENT
by Egon von Greyerz
Today’s financial world is a minefield. There is massive divergence in performance in different markets and sectors; European stockmarkets are down around 15-20% this year, US slightly less whilst some Asian markets are down in excess of 30%. Certain sectors such as Banks and Property are down 50-80%. On the other hand we have seen substantial gains in commodities, especially food and energy (crude up 42%, corn up 59%) and also in precious metals. These trend are likely to continue for at least 2-3 years and probably a lot longer during which time commodities (especially precious metals) will outperform
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