By: Dan Weil
The recent annual gathering of financial movers and shakers known as a “Shadow Fed” produced some predictions of a sovereign default in Europe.It also produced a consensus forecast that Republicans will regain control of the House of Representatives this November.
The Maine confab is hosted by Cumberland Advisors money management firm and was attended by 41 heavyweights in the financial community this year.
Of the 26 participants in the group’s survey, four expected at least one European country to default or reschedule its debt payments in the next year, according to a commentary about the meeting written by Cumberland Chairman David Kotok that appeared on various media outlets. (more)
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