Good morning,

Bank of America has revealed its Twelve Angry Trades for 2024.

The list is drawn from its latest global fund manager survey, picking out things investors aren’t expecting in the new year and listing ways to trade them.

For example, if you’re a contrarian trader who believes the current geopolitical storm in Europe and the Middle East will fade next year, make a bet on falling oil prices.

Think interest rates will be higher? Sell leveraged investments. For a bet on higher inflation, buy Treasury Inflation-Protected Securities.

If you’re among the few who think the US dollar will be stronger, BofA says it’s time to sell emerging markets. And if you expect the magnificent seven – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla – will underperform, short the Nasdaq-100.

BofA also reminded investors that 2024 is a major election year with ballots scheduled for 80 per cent of the world’s market cap, 60 per cent of the world’s gross domestic product and 40 per cent of the world’s population.

Happy reading,

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• BlackRock-backed EV charging firm seeks fresh funds.
• KPMG seeks buyers for Australia’s biggest artisanal baker.
• JPMorgan launches $70 million SG Fleet block trade.
• Terms out for Healius’ $187 million rights issue.

• Citi bankers brace for job cuts as ‘Project Bora Bora’ advances, writes Aaron Weinman.
• PE firms including EQT, Cinven and Silver Lake are buying back companies they only recently took public, in a bid to salvage investments, The Financial Times reports.
• The imminent arrival of bitcoin ETFs, possibly by mid-January or sooner, has Wall Street anticipating a $US100 billion juggernaut, Bloomberg reports.

At the last count, retail shareholders made up around 30 per cent of equity holders, making them a critical voting block.

Click here for the latest equity market wrap.