INVESTMENT CLOCK: IN REFLATION

PHASE FOR A THIRD MONTH

June 2010
by Trevor Greetham, Asset Allocation Director at Fidelity

November 2010

The investment clock approach generates growth and inflation readings based on
past trends and current momentum of lead indicators, to help forecast how the
What about the past? Here's what the investment clock by Mr Greetham looked
global economy may perform in the coming three to six months. The growth
like in June 2010:
reading sets the relative weighting of cyclical and defensive assets (north-south
on the clock diagram). The inflation reading sets the weighting of financial assets
versus real assets (east-west).