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Macro expert and money manager Michael Pento returns for part two of our interview with him in which he suggests that the S&P 500 could drop by 30-40% to around 3,000 points if market forces were allowed to operate naturally. This drop would correspond to a severe recession or deflationary period.
Are you scratching your head at the disconnect between the macro data and current market prices?
The systems that run our economy are only as good as the people running them.
The investing landscape has changed dramatically over the past year with the removal of record monetary and fiscal stimulus and the subsequent surge in inflation and interest rates.
Even the titans of investing are worried these days. Legendary investor Warren Buffet declared America’s ‘incredible period’ of growth is over at the recent Berkshire Hathaway annual meeting. And Stanley Druckenmiller forecasts a 20%+ decline in earnings in the near term while sounding the alarm over entitlement spending as America’s deficits and demographics continue to worsen.
The financial markets enjoyed a banquet of steady stimulus in the decade following the Great Recession, and unsurprisingly rose to unprecedented heights by the end of 2021.
Portfolio manager Lance Roberts and Wealthion host Adam Taggart discuss the significant elements of Wednesday’s announcements by the Federal Reserve and by Jerome Powell at his subsequent press conference. They all discuss the cross-currents of bearish and bullish indicators — making this one of the most challenging investing eras in living memory.
Here in Part 2 of our interview with Michael Howell of Crossborder Capital, Michael explains which assets he thinks will perform well now that the Liquidity Cycle has turned positive. Tech, discretionary stocks, gold & commodities top his list.
