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Reuters/Jo Yong-Hak
Efficient markets!

If you only make one investment this year, buy a golden pig

It’s the only sensible choice.

In all seriousness, it’s been a tough backdrop for picking winners this year. But gold has been a big one. The outperformance of the metal is tied, in part, to the flood of cash out of China, some of which is finding its way into the barbarous relic. Meanwhile, hog prices are holding up amid rising demand for pork from consumers.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

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