Prechter: We’re Going to Have Another Leg Down
Ach. Het is gelukkig niet compleet leeg in de deflatiekamp. Grote namen zoals Hugh Hendry en Robert Prechter kunnen nog altijd van de nodige argumenten voorzien waarom de dollar kan stijgen:
Stocks and gold are crowded markets and there is a risk that everybody will want to exit at the same time, Hugh Hendry, chief investment officer at Eclectica, told CNBC Friday.
“I think it’s all one way, all one trade, there’s no diversification. You’re either in the market or you’re not,” Hendry, who is the second-largest investor in his fund, told “Squawk Box” in London.
QUESTION: “Well, how much a correction do you expect though, Bob?”
ANSWER: “I think we’re going to have another leg down, not just a correction. I think the bear market is not over. We had the first phase in 2008, we’ve had a partial recovery, a 52 percent retracement, by the way that’s the same amount the market retraced after the 1929 crash … I think 2010 is going to be a very down year.”