Biography
Marc Fandetti, CFA, is a portfolio strategist at Armstrong Advisory Group, a Registered Investment Advisor in Needham Massachusetts. He is a CFA charterholder and holds an MS in Applied Economics from Boston College. Fandetti’s research has been published in The Journal of Portfolio Management and The Journal of Alternative Investments.
The relationship between stocks and interest rates is not reliably stable. There are periods when equities are highly rate sensitive, and periods when they aren't.
While there are periods when gold has hedged inflation quite well, beware blanket claims of gold's inflation-hedging utility.
A simple analysis shows that Robert Shiller's cyclically adjusted price-to-earnings ratio changed in the 1990s and that mean-reversion concerns may be misplaced. If CAPE changed three decades ago, however, there is nothing preventing it from doing so again.