Since Greenspan’s intervention in 1987, it is “Bonds, Long Bonds” that have been a girl (investor’s) best friend… even though diamonds may be forever.
For almost 40 years, US government bonds and diamonds traded at around the same ‘price’. All that changed in the late-80s as Greenspan ‘saved the world’.
The question is – as BofA’s Michael Hartnett asks – is it time to shift back to ‘real assets’ like diamonds and away from ‘financial assets’?
