Katana: It’s still too early for BHP

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Romano Sala Tenna from Katana Asset Management says he remains cautious on the current state of equity markets and as a result is holding around 30% cash. Sala Tenna says widening spreads in debt markets and rising volatility are just two of the symptoms that are giving rise for his cautious approach. "In August we saw the highest level of volatility since 2011 and the highest level of volatility on an intra month basis since 2008. Volatility is often that canary in the coal mine and it does to us say we need to be a little bit more cautious than we otherwise would be." In this interview Romano shares his views on the weakness in large cap stocks and why he thinks it is still too early for him to buy into BHP.

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