For Prieur’s latest commentary on global markets, click here. Below is a snippet indicating what some financial pundits believe is going to happen to stock markets:
A number of commentators have been making pronouncements about the extent of a possible decline. For example, Jeremy Grantham (GMO) expects the S&P 500 to drop by 15-25%, David Rosenberg (Gluskin Sheff & Associates) sees markets falling by 20%, Doug Kass is looking at -5% to ‑12%, David Fuller at 10-15% and Barry Ritholtz at 5-15% (The Big Picture), with Andrew Smithers (Smithers & Co) the most bearish, viewing the S&P 500 to be 40% overvalued.
I am currently out of the stock markets and hold cash, inverse US ETF’s or iShares Canadian Short Bond Index Fund (XSB).
FJP
