The stock market has the perfect setup for a steep correction, Michael Gayed warned.
The portfolio manager pointed to three warning signs flashing in the market.
“I still think we’re all in a lot of trouble,” Gayed wrote. “All bubbles end.”
The market is looking like it’s in the “perfect setup” for investor panic and a coming stock crash, according to one of Wall Street’s most bearish fund managers.
Michael Gayed, a portfolio manager at Tidal Financial and the author of The Lead-Lag Report, warned that stocks could be at risk of a major correction, thanks to a handful of warning signs that are flashing in the market.
In an op-ed for InvestorPlace on Thursday, Gayed pointed to the rising price of gold, utility stocks, and long-term Treasury bonds — three assets investors typically flock to for safety when the market starts to sour.
“It’s uncommon for these three traditionally defensive asset classes to move in such harmony, and historically, this kind of movement has been a precursor…
2024-03-08 18:51:33
Source from finance.yahoo.com
