• Clifford Bennett, Chief Economist | World’s most accurate currency forecaster at ACY Securities


• 27.04.2022 09:15 am
#stocks , Clifford Bennett has over 36 years of market trading experience and was named the 'World's most accurate currency forecaster' by Bloomberg New York. He has advised some of the world's largest organisations, billionaire investors, and political leaders and spoken at the prestigious APEC summit on reserve currency issues. Clifford is the Chief Economist at ACY Securities.

It is like everyone has just stood on the sand, watching this massive Tsunami build toward them, wondering about its smallest characteristics?

We literally said with regard to stocks... “get out now”.

One cannot be more emphatic than that.

All the writing has been on the wall, and more writing over the top of that. The correlation to tulip bulbs, sky high valuations, even on companies that have never made a profit, and the widely held idea that everyone can get rich trading anything, real or otherwise.

As a society we have allowed central banks to nurture us so that our lives are easy and our property portfolios go sky high. Forget bubble risk, just keep rates low and whatever you do, never criticise the Federal Reserve or RBA for being asleep at the wheel. We all just want to get rich the easy way.

This stock market decline, I did say first week of January that that could be the top for the year, has all the hallmarks of a major sustainable downturn. Read… CRASH!

On every decline the 'positive mental attitude' people were in full voice. Now, with their throats struggling, they have still yet to enter any phase of self doubt. What is wrong with the PMA crowd? Just that they are not the “reality” crowd.

Here is a shocking fact for you. Everyone who is long stocks and leveraged long to the hilt, all of these investors, most of the planet, have become nothing but a sea of potential sellers. This sea is the groundswell of the tsunami now shockingly hitting us all.

This is not a buy the dip situation.

This is a keep getting out as fast as you can to preserve your wealth situation. I hope I am being clear enough for people to hear me.

The Federal Reserve and RBA have created alike, what no one wants to hear, asset bubbles in both stock and property markets.

This may not be the truly big crash, but it does have all the early hallmarks. I think it is. When you take into account the fast gathering risk of three simultaneous recessions in Europe, USA and China by year end, something we have been screaming from the rooftops, then an overheated stock market like this one, has plenty of downside.

Why is the stock market crashing?

Because people are waking up and only just starting to panic. Which is exactly the correct and most appropriate behaviour.

Clifford Bennett
ACY Securities Chief Economist.

The view expressed within this document are solely that of Clifford Bennett’s and do not represent the views of ACY Securities.

All commentary is on the record and may be quoted without further permission required from ACY Securities or Clifford Bennett.

This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.