Lynn Alden sees the economy in a "rangebound malaise" , where broad equity indices might struggle, but sector-specific opportunities still exist. Her focus is on industries priced for recession risks, like U.S. regional banks and commodity producers, while staying cautious on overvalued tech giants. Alden’s investment approach continues to revolve around her three-pillar strategy : high-quality global equities, hard monies (Bitcoin, gold, commodities), and cash equivalents for flexibility. Bitcoin remains her top conviction play, as she believes we are still mid-cycle in a bullish trend driven by fiscal dominance and growing institutional adoption. She also warns that tariffs are a hidden tax on consumers and businesses, gradually acting as a drag on U.S. economic growth. While inflation and fiscal deficits remain structurally high, Alden expects any future Fed leadership to lean dovish, pushing rates lower—but warns this may not translate to lower mortgage or long-term borrowing costs. Alden emphasizes the importance of scarce assets like Bitcoin and gold in this environment, though she’s currently more bullish on Bitcoin's upside due to its growth trajectory compared to the mature gold market.
