Julien Bittel, CFA

Latest positions

• JBJulien Bittel, CFAStrongly bullish on gold Expects a weaker dollar to let gold run. “A weaker dollar lets gold run.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly bullish on Robotics Expects robotics to be the next decade's productivity engine, dwarfing what the internet did. “the productivity engine is AI and robotics, and it will dwarf what the internet did.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly dovish on Federal Reserve System Expects the Fed to stop hiking and then reverse course once oil comes out of the inflation picture. “Take oil out of the picture and he has room to stop hiking, then reverse course.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly bullish on AI Expects the AI capex boom to keep accelerating, with hyperscaler spending already above 2% of US GDP. “And that boom is only just getting started.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAFalling on core CPI Expects core CPI, at 2.4%, to keep edging lower. “Core CPI is at 2.4% and still edging lower.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly bearish on crude Expects crude to head lower if the Strait reopens, with the setup intact so long as it stays below the downtrend and $110. “If the Strait reopens and crude heads lower, headline inflation loses its biggest tailwind” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly bearish on oil Expects oil to move lower if a Strait of Hormuz deal lands before the midterms. “Act one: a Strait deal lands before the midterms, oil moves lower” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFABearish on bond market Expects the front end to rally faster than the long end, producing a bull steepener in the bond market. “The front end rips, the curve bull steepens” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAStrongly bullish on NASDAQ 100 Expects tech to keep outperforming, citing the Nasdaq 100's 500%+ run from 1996 to 1999 as the template. “The Nasdaq 100 rose more than 500% from 1996 to 1999.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFABullish on treasuries Expects the Fed's continued Treasury purchases to keep growing, effectively monetizing government paper. “It has added around $365bn of Treasuries since December, and the line is still climbing.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFAImproving on US Expects the US economy to be worth more as productivity rises, escaping the debt trap through nominal growth. “start rising on an economy that’s worth more (productivity)” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept
• JBJulien Bittel, CFABearish on WTI Sees WTI rejected at the top of its range near $107 and expects it to stay below the downtrend, especially below $110. “It just tested the top of it near $107 and got rejected.” Open the post Jeff Gundlach laid out the Fed's dilemma this we… · 25 Sept