GAM’s Markham Questions How Long Relief Rally Will Last

Paul Markham, head of global equities at GAM Investment, expects investors will remain cautious despite Tuesday’s relief rally, saying it’s “quite difficult to believe” the current bounce will be sustained.

The investment manager is maintaining his existing positions, staying “long technology and short banks,” while remaining “fairly constructive on some of the industrial names that benefit from the AI trade.” Markham explained that making too many portfolio changes during geopolitical tensions can lead to getting “whipsawed” in volatile markets.