Come April, I will have been in and around Wall Street for 33 years. Having once been blessed to forecast some of the major tops and bottoms in markets, I left the prognosticating “racket”, after enough “egg-on-my-face” from many miscalculations (nice word to replace I was wrong).
I no longer involve myself in anyone’s investments but my own, and sell no products or services that benefit from forecasting cups half-full or empty. Having said that, I can also tell you from the deepest part of my heart, I have never been more confident that a major financial crisis and/or serious market decline is not too far away.
As I noted in recent times, my own personal holdings are just in gold, a couple of mining stocks and cash. This is in no way a suggested asset allocation for anyone else; but I do implore family (those who still listen to me), friends (all two of them-lol), and clients who still haven’t hung my photo with the Atlanta Falcons with a big x drawn over them, to consider becoming a “live chicken versus dead duck” from this day forward when it comes to most financial markets (and economies here and in many other countries around the world).
I did an interview yesterday that I hope is out by tonight that goes into this. I will also try to write more thoughts on this in the coming days.
For now, know yours truly has heard this and is most comfortable being here: