Twelve Days Of Christmas For Investors - Day One Cryptocurrency

Dec. 18, 2017 10:07 AM ET
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Gary Dugan's Blog
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Portfolio Strategy, Macro, Chief Investment Officer

Contributor Since 2013

Investment professional with 35 years experience of buy and sell side of the banking businesses. I have managed numerous strongly performing investment and advisory teams in large banks in Europe and more recently in Asia and the Middle East. In the early years of my career, I was a portfolio manager covering UK equities. I then moved across to portfolio strategy as a sell-side strategist for Europe at Baring Securities and JPMorgan. The core of my career was the 11 years at JPMorgan where I made Managing Director. At JPMorgan, I moved across to the asset management business in 1998 responsible for multi-asset portfolio management for Europe Middle East and Asia. At JPMorgan, I also provided advice to the Private Banking business. In 2004 I moved to Barclays Wealth as CIO for their European and Asian business. Subsequently, I have held CIO roles at Merrill Lynch Europe), Coutts in Singapore and Emirates NBD and NBAD in the United Arab Emirates. I have a reputation for making bold calls on the markets I made major bear calls on equity markets in 1987, at the top of the tech boom and the financial crisis in August 2007, and a bull call on equity markets on March 17th 2009. I predicted Trump's victory. I am an asset allocator and tactical trader in asset classes I often speak at conferences and provide industry thought leadership on a number of macro and investment topics. In the past, I made a presentation to the European Parliament on the outlook for asset markets after the introduction of the euro.


  • Bitcoin is on my son's list to Santa.

Dear Santa, please could I have 0.01 of a Bitcoin? My Dad tells me I’m mad to ask. He says it’s just a bubble and that it will be worth a lot less in a year. Well I checked his investments out on his Bloomberg when he wasn’t looking and he’s got a whole load of bonds with the neumonic JUNK so what does he know? He offered me some brand new dollars covered in the faces of dead people and from a country which is run by a “dead man walking” well that’s at least what my Dad called Donald Trump last week. Anyway it seems to me everyone has these dollar notes so I want to be different. He also said my Bitcoin would be hacked and I would lose it all. There again, my Dad lost his ATM card the other week and the bank wasn’t keen to give him his money. Dad said that even if you managed to bring it on your sleigh I wouldn’t be able to spend it. But I hear the Japanese are happy to take it and I’m in the market for a robot sometime next year. 

PS. Sorry Santa, if the elves haven’t mined enough Bitcoin, Ethereum would do as well. 

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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