---
title: "Favoring the Precious Metal Complex"
url: https://independentstockanalysis.com/favoring-the-precious-metal-complex/
description: "The bearish Evergreen Gavegal suggests that in 2020 bonds could sell off while stimulus could boost equities in a “re-rating could be surprisingly…"
published: 2019-12-21
updated: 2019-12-21
---

# Favoring the Precious Metal Complex

Published 2019-12-21

Posted on

by

J.J. Butler

The bearish [Evergreen Gavegal](https://blog.evergreengavekal.com/the-risks-in-2020-seem-evenly-balanced/?pdf=9999) suggests that in 2020 bonds could sell off while stimulus could boost equities in a “re-rating could be surprisingly strong.” Legendary Stanley Druckenmiller gives a pragmatic, insightful and thoughtful interview to [Bloomberg](https://www.youtube.com/watch?v=Cs-0aC9Rd8g) in which he explains the reflation case.

Inflation – We Gonna Let ‘Er Run Hot: “Position your portfolios accordingly.” [Macro Tourist](https://themacrotourist.substack.com/p/inflation-we-gonna-let-er-run-hot)

Meanwhile, [David Rosenberg](https://www.youtube.com/watch?v=u5aIvU_bmrs) has many of the same concerns but is not in the reflation camp.

If the reflation trade is on, *It’s time to get greedy in the energy sector* says [Jesse Felder.](https://thefelderreport.com/2019/12/11/its-time-to-get-greedy-in-the-energy-sector/)

The farce of the Trump-China agricultural deal: [Chris Martenson](https://www.peakprosperity.com/bubbles-are-brutal/).

The latest from [Dylan Grice](https://gallery.mailchimp.com/95765d1493004955e9ea79927/files/01a269ed-8bc8-4f6e-a38d-00ccaae4277f/201912_Popular_Delusions.pdf). Commentary on the value-growth divergence from [Star Capital](https://www.starcapital.de/fileadmin/user_upload/files/publikationen/Kapitalmarktforschung/2019-11_End_of_Value_premium.pdf?mc_cid=70b1a18f78&mc_eid=995f0fb245).

“…every policy is, on the contrary, designed to force the gold price into an ever upward spiral.” [The Bear’s Lair](https://www.tbwns.com/2019/12/09/the-bears-lair-the-case-for-gold-grows-ever-stronger/). Gold vs the stock market at the [Speculative Investor](https://tsi-blog.com/2019/12/whats-required-for-a-gold-bull-market/).

Independent Stock Analysis favors the precious metal complex.