THE ECLECTICA FUND - NOVEMBER 2002
Investment Manager’s Report: What is happening?
We believe the monetary authorities have embarked on a huge reflationary exercise: interest rates have now been cut aggressively (again) and the Fed is pumping liquidity into the financial economy (again). Initially this liquidity should find a home in high beta, TMT and life insurance stocks, further out a higher gold price and weaker dollar beckon.