In a series of notes discussed on CNBC by Joe Kernen, billionaire hedge fund manager David Tepper laid out where he stands on the market currently.
And it’s not bullish:
1. Powell basically told you the Fed put is dead.
2. Everyone is tight. Chinese money growth plummeting. ECB cutting the last of QE. And Fed still in tightening mode.
3. The net biggest issuance of Treasuries and worldwide fixed income is coming next year. Something is going to get crowded out. Bonds stocks etc.
4. Oh and there is this trade war question. I think we should be having a fight with China on different issues. But it is not conducive to confidence. Freezing some worldwide activity.
5. Cash is not so bad.
and finally, more ominously:
6. The Fed won’t care for another 400 S&P points
Is anyone ready for that?
Tepper’s warning fits well with Deutsche Bank’s observation that “The Fed are not likely to change their planned policy path dramatically to rescue equity markets unless and until the selloff begins to affect the real economy. “
Please cut the BS. Powell is an employee of the Rothschild Criminal Banking Syndicate that own the Federal Reserve and uses it to control Congress. Powell does what he is told. Blowing bubbles and then deflating them is what the Fed does to enrich the owners at the expense of honest workers who produce valued products and services…unlike the banksters. Central and fractional-reserve banking is the most evil system of theft and plunder ever devised by mankind which is why this foreign controlled system most be totally destroyed.
Tepper’s warning fits well with Deutsche Bank’s observation that:
“The Fed are not likely to change their planned policy path dramatically to rescue equity markets unless and until the selloff begins to affect the real economy. ”
And finally, Tepper explains what really matters:
7. It’s the real economy stupid…
And The Fed is tightening into a weakening economic backdrop – this will not end well.
This (above) isn’t my commentary, it’s the end of the ZH article which got eaten by formatting elves here.
The Dow just went into 22k territory, looks like they are starting to run for the exits.
Went to 90% cash in February. Kept some oil, pm and reits.
Robert (QSLV)
Gold is the “official money” of the banking world. Why not a bigger stake in PMs? Just curious on your thoughts.
Hell??!! Let me tell the younger readers here just what Hell is: in 1979-80 I was 30 and married with 1 baby and #2 in the oven. We really needed a little home..We had saved enough for a 30% down payment..Even so the best rate we could get was 13% and the damn loan was negatively amortized..i.e. we owed more each month after making the payment!!!That was fuc%$#@ing HELL..Oh yes Chowderhead it can get a whole boatload worse.
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