Having answered some of the 'big questions' facing the market in 2025 earlier in the week, Goldman Sachs head of hedge fund coverage, Tony Pasquariello, notes that it’s been a tricky start to 2025, with plenty of open debate around the outlook for the economy and markets (inflation, deficits, index concentration, geopolitics, politics, non-US worries, on and on).
I’m not dismissive that the setup today, with regard to both valuation and positioning, is more demanding than it was at the start of 2023 and 2024.
I’m also not dismissive that the degree of difficulty in tactically navigating this market feels higher than it did at most points last year -- today’s price action is case-in-point
With that said, Pasquariello takes a step back to focus on some big picture charts, and these eight are show-stoppers...
