Investor Victor Dergunov advises rotating into gold miners, energy, and defensive stocks amid market uncertainty.

Victor Dergunov outlines a five-step investment plan focusing on reducing risk, raising cash, and rotating into beaten-down gold miners and energy stocks due to market uncertainty and geopolitical tensions. He favors companies like Barrick, Newmont, and Agnico Eagle in gold, and Devon, APA, Schlumberger, Halliburton, and Baker Hughes in energy for their low valuations and growth potential. Dergunov remains bullish on core tech holdings AMD and Tesla but uses hedging strategies to manage volatility. He advises caution but readiness to invest when market signals align, emphasizing diversification and patience amid ongoing geopolitical and economic risks.