Although the carnage won't take place until the end of next year, the time to get out of the stock market is now.
Just look at the S&P 500 for guidance.
"We went long in 2009 in the first quarter [when] we had a price target of 1,356 on the S&P 500, so we're getting close," Nenner tells Fox News.
Former Goldman Sachs analyst Charles Nenner predicts a major war will break out in 2012. |
"So I told my big clients, hedge funds, pension funds, and big firms to go almost totally out of the market."
War, Nenner says, will spur the massive sell-off in two years, sending the Dow to 5,000.
"I also do war and peace cycles and it shows that were going to have a major war starting at the end of 2012, beginning of 2013. And I think that's going to do it," says Nenner, without providing specifics.
Even amid Wall Street's rally, only one in seven Americans has faith a lasting economic recovery has taken hold, and many say they are personally worse off than they were two years ago, according to a Bloomberg poll.
"There seems to be something of a disconnect between what people are feeling and what people are doing," J. Ann Selzer, whose Des Moines, Iowa-based firm, Selzer & Co., conducted the poll, tells Bloomberg.
"While admitting a recovery has at least started, the public still feels crummy. They may not feel it has started for them."
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