TopPicks from Mike Philbrick, chief executive officer, ReSolve Asset Management
Mike Philbrick, CEO of ReSolve Asset Management, discusses his top picks: 3iQ Bitcoin ETF, Global X MSCI Argentina ETF, and iShares India Index ETF.The ETF seeks to provide unitholders with exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin, and the opportunity for long-term capital appreciation by investing in long-term holdings of bitcoin.
In the early months of 2023, the cryptocurrency market experienced a strong and vigorous start. At present, the market is witnessing a surge in upward momentum, driven by favourable global macroeconomic conditions and a moderation in inflation data. Notably, the global cryptocurrency market capitalization has risen to $1.19 trillion, fueled by significant trading volumes. This positive trend has contributed to the market's overall growth and investor confidence in the crypto space.
The ETF invests in the digital currency bitcoin. Given the speculative nature of bitcoin and the volatility of the bitcoin markets, there is considerable risk that the ETF will not be able to meet its investment objectives. An investment in the ETF is not intended as a complete investment program and is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. An investment in the ETF is considered high risk.
Emerging market equities have stabilized and formed a large bottoming pattern and are in the process of breaking the downtrend off the February 2021 highs due to the stabilization of global macroeconomic conditions – this is a bullish development. When this occurs, momentum investors look for “leading areas” within emerging markets, like Argentina to allocate capital to.
The surge in Indian equities is a reflection of the strength and potential of the country’s economy. The International Monetary Fund expects India to outperform all major emerging and advanced economies this year, logging 5.9 per cent growth in gross domestic product. India recently overtook China to become the world’s most populous nation, with 1.43 billion people, representing an enormous pool of potential workers and consumers that companies.
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