Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

GOLD: Trapped Between War Headlines and Fiscal Reality Executive Summary

Event-Driven

<ul>
<li>Gold’s sharp correction is driven by USD strength, rising real yields, and forced liquidation, not a breakdown in fundamentals.  </li>
<li>The current setup mirrors March 2020, when liquidity stress triggered a sell-off before a strong rebound.  </li>
<li>We expect gold to retest USD5,000/oz in the near term as yields peak and liquidity conditions stabilise. </li>
</ul>


Gold’s sharp correction is driven by USD strength, rising real yields, and forced liquidation, not a breakdown in fundamentals.  
The current setup mirrors March 2020, when liquidity stress triggered a sell-off before a strong rebound.  
We expect gold to retest USD5,000/oz in the near term as yields peak and liquidity conditions stabilise. 


Gold’s Sell-Off Is a Liquidity Event — Position for a Rebound to USD5,000/Oz