David Hay

David Hay is the Chief Investment Officer and Principal at Evergreen Gavekal, a leading independent registered investment advisor based in Bellevue, WA, where he has played a central role since acquiring a majority interest in 2002. In this capacity, Hay leads the firm's investment strategies, focusing on macroeconomic research and the development of dynamic, risk-managed portfolios for high-net-worth individuals, families, and institutional clients. His specific investment expertise encompasses equities, fixed income, and alternative assets, with a particular emphasis on value investing, market cycles, and opportunistic allocation in response to macroeconomic trends.

Prior to Evergreen Gavekal, David Hay built a distinguished career as Senior Vice President, Senior Portfolio Manager, and Director at Morgan Stanley Smith Barney from 1990 to 2002 and as Senior Vice President and Certified Financial Planner at Dean Witter Reynolds (now part of Morgan Stanley) from 1979 to 1990. He was notably the youngest member ever elected to Dean Witter's elite Chairman's Council, reflecting early recognition of his leadership and investment acumen.

Hay holds a Bachelor of Arts from the University of Washington. Recognized for his thought leadership, he is the editor of the Haymaker investment commentary and author of the book "Bubble 3.0," which documents his perspective on recent market cycles and the evolving landscape of global investing. Over more than four decades, Hay has gained a reputation for blending fundamental research, evidence-based principles, and advanced analytics to anticipate market opportunities and manage risk effectively.