It has been a busy month. Not only were markets volatile, I combined this with a trip to New York. While the performance was very good, more than anything it was a validation of the analysis. This gives me more clarity on where we are going, and how we are going to get there. As I now realise the importance of politics, the strategy should work as long as Donald Trump is in power - which in practical terms is two years until the mid-terms, but more likely four years. First things first, the core trade of GLD/TLT blasted to new highs this month.
