I'm a famous stock, commodities, and currency trader. Mostly because of trading for the Chicago Trader Richard Dennis in the 1980s. I'm generally retired from trading except for my own account. I've been working on poverty and education initiatives mostly.
I’m seeing a big divergence in the risk/reward ratio for stocks and way too much pent up risk on the fundamentals that don’t correlate with stock performance in the U.S. stock market.
The last time I felt this way, I told my father-in-law to get out of his 401K when the S&P was at 1,550. He got talked out of doing anything by his banker who didn’t know fuck-all about stocks. The market dropped within a few weeks to 1,270 and then bounced around and I got my father-in-law and took him down to the bank myself when the market came back to 1,350 and he told his banker to liquidate everything while I was there to explain to his banker that I knew more about trading than he did and that he wanted out so please stop trying to convince him to get into something else. That was in April of ‘08, by March of ‘09, the S&P had halved to 670 so I saved him half his retirement savings.
DISCLOSURE: I have no positions in any markets.
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