Christopher Wood, global head of equity strategy at Jefferies, expects a dramatic synchronized global recovery as the world emerges from the pandemic.
Wood said: “We increased our allocation to India yesterday. From a relative perspective India has looked attractive against the backdrop of Asian emerging markets over the past few months. The most constructive thing about it is The current time about India is that COVID cases continue to fall even after the Diwali holiday because we are seeing contrasting trends in different parts of the world, especially in Europe and the United States . “
“The dollar ended 2020 on a very weak note. A weaker dollar is positive for all emerging markets, including India. So my basic assumption is that we’re going to have a dramatic synchronized global recovery out of this pandemic. However, I expect a cyclical rebound once the health crisis is over and that will lead to higher oil prices, ”he said.
Speaking of Bitcoin Woods said, “I would advise anyone to buy Bitcoin because in my opinion the spectacular development of Bitcoin in 2020 is that institutions have just started investing in Bitcoin. The key point about Bitcoin is that the supply is limited. Also millennials are much more likely to buy Bitcoin than gold. Thus, Bitcoin can go much higher than the current level. “
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