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Running Hot – November Letter


The highly probable and downright inevitable unwind of today’s trifecta of financial asset bubbles: stocks, corporate credit, and Treasury bonds may soon morph into brutal bear market. … Read the letter»

2 of World’s Top Funds in 2018 per Bloomberg


“As the dust settles on a troubled year for hedge funds, some managers escaped the wreckage and even thrived.” Read More»

Crescat Launches New Precious Metals SMA Strategy


Gold and silver stocks are insanely cheap while growth prospects have never been better. The strategy is already up 35.9% Net Year-To-Date. See Details Here>>


ABOUT CRESCAT

Crescat is a global macro asset management firm. Our mission is to grow and protect wealth. We deploy tactical investment themes based on proprietary value-driven equity and macro models. We strive to create optimally diversified portfolios based on each client’s needs and objectives. Our goal is industry leading absolute and risk-adjusted returns over the long term with low correlation to common benchmarks. We apply our investment process across a comprehensive mix of asset classes and strategies:

Crescat Global Macro: Our flagship hedge fund invests long and short around the world to take advantage of opportunities in any asset class. The strategy exploits both cyclical and secular macro themes throughout global equity, commodity, currency, and fixed income markets.

Crescat Long/Short: The cure for the common index fund. Guided by our time-tested, fundamental stock-scoring model and macro themes, our equity-only hedge fund is all about delivering alpha from long and short stock picking combined with intrepid navigation of the business cycle. This fund can be tactically net short in highly over-valued markets ahead of probable economic downturns.

Crescat Large Cap: An actively managed portfolio of global large cap equities. Crescat’s longest running strategy has outperformed the S&P 500 over the long term through multiple business cycles. A long-only, separately managed account (SMA) strategy. In extreme times, this strategy can hold up to 50% cash and precious metals to protect against expected macro downturns.

Crescat Precious Metals: A core macro asset class for a variety of economic conditions. Offers strong appreciation potential during both inflationary and recessionary environments. We navigate the precious metals cycle through this long-only SMA strategy focused on a well-researched portfolio of global all-cap gold and silver mining equities. Precious metals securities offer healthy long-term total return prospects with low correlation to more highly trafficked asset classes.

We invite you to peruse our website for more information about our investment process, performance, investment outlook, and how to become a client.

Important Disclosures


Boeing. Everyone wants to buy the dip, but it’s still trading near its highest EV to sales ever. It could be the Enron scandal of our day. Or it could just be good ole Boeing that gets crushed in every business cycle downturn. Either way, $BA does not look like a buy.

In a free fall.

It's what the bursting of a bubble looks like.

Venture capital barometer down close to 40% from its peak in June 2019.

VC deal volumes are down 24%, while deal exits just plunged 35%!

Yet another vital part of the economy crumbling.

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