Up close with Dennis Gartman

 

My partner, Jane Alm, had a chance to meet with Dennis Gartman this week. The following are the key points from their meeting:

• Interest Rates – Interest rates will rise in Canada before they do in the US.
• Inflation – We will see asset inflation but wage deflation.
• US Housing – Houses will have to be bulldozed or immigration will be have to be increased.
• Oil – $15 risk premium is priced in, plenty of supply, and demand is holding.
• Greece – German tax payers will not bail out Greece.
• China – Chinese consumers will be the long term growth story.
• India - Too much bureaucracy left over from the British rule.
• Imperial Rule - US remains imperial ruler because of their naval strength.
• Reserve Currency – US remains reserve currency – no alternative.
• Best places to invest – Canada and Australia, both have resources and good relations with China.

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Angus Watt

Managing Director, Individual Investor Services