Part 1 of Larry's latest take on the market, crypto, gold and the Fed.
Larry is a fucking National Treasure, and I'm glad you have him on. Smart guy, heart in the right place. Not an ideologue. We need more leaders like Larry.
I feel the pain.
I looked for refuge in GLD, SLV, and miner stocks. I was ahead until the the last quarter. The only thing I have that is still above water are utility and energy funds, and they have dropped. I still did better than the S&P and Nasdaq.
One of the issues of broad index funds is when the market goes south and the shareholder redemptions increase , every stock in the indexes is up for sale and we see a very broad market decline.
I kept enough in cash to meet my needs because I am taking the long view and I believe the dollar and other fiat currencies are going to decline, at at some point the bullion banks won't be able to manipulate the markets.
I share exactly the same view. I’ve been in the markets since 1990 and I can see no other outcome than the one that history suggests. Things are always the same, with new elements, but at the end of the day, logic prevails. A very painful correction and recession can be delayed, but can’t be avoid. The sooner it happens, the fastest and less painful. As a matter of fact, we are here because “overprote tive” governments tried to avoid us the “pain” of small periodic adjustments. The best asset to hold is USD. And if you want to be a little more aggressive, you can go short the stock indexes. I don’t think there is going to be any change in my asset allocation until 2023, this is going to last sometime.
Great read, Larry is one of my favorite analysts
Thank you. Looking forward to part two. Is Larry recommending GDXJ now? Or are we going lower still?
Nancy should go to jail.
Great article with solid points !!
Is there a podcast with Larry that you can post?