Why Gold Stopped Being a Commodity (AllianceBernstein’s Inigo Fraser Jenkins) | #649
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.
Key Points
- AI is expected to raise productivity but primarily maintain current growth rates rather than provide an extra uplift.
- US equities are strategically recommended for better real returns, even though bonds may not serve as effective diversifiers as they once did.
- Gold is considered a non-fiat asset with zero correlation to equities, making it a valuable diversifier in a portfolio.
Follow Inigo: Website; LinkedIn
Resources: The Book: 2026 Edition The 100-Year Portfolio: A State of Mind Rather Than an Allocation Commodities, Real Assets and the Return of the Physical Economy
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.
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Chapters
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| 42:38 |
Transcript
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