Gave Charles PicErik Townsend and Patrick Ceresna welcome Charles Gave to MacroVoices. Erik and Charles discuss:

  • The corporate yield curve and what it is telling us about the equity market
  • The Hong Kong dollar peg
  • China’s debt and related risks
  • The risk parity trade with bonds and stocks selling off simultaneously
  • “The Upcoming Monetary War, With Gold as An Arbiter”
  • Gold bullish vs bearish
  • The return of secular inflation
  • What happened in the 70’s with inflation?
  • Preparing for the return of secular inflation


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Charles Gave

Chairman - GaveKal

Charles has been researching tactical asset allocation for over forty years.  After three years as a financial analyst in a French investment bank, Charles created Cecogest in 1974.  Cecogest was an independent research firm with a large global client base.  In 1986, Charles stepped away from pure research to move into money management.  He co-founded Cursitor-Eaton Asset Management where he was Chief Investment Officer. At Cursitor, Charles managed over US$10bn of institutional money on a global asset allocation mandate.  Cursitor was sold in 1995 to Alliance Capital and Charles remained with Alliance Capital until 1999.  At this time, he elected to go back to his first love: research on tactical asset allocation.  He left Alliance Capital to create GaveKal where he is the Chairman.

Charles sits on the board of numerous companies, and has written several books.  Charles writes a weekly column for the French newspaper Le Journal des Finances.  Charles is married and has four children and eight grand-children.