By Tyler Durden
“Everyone Is Extremely Long ‘Frothy’ Stocks”, World’s Biggest Hedge Fund Warns; Sees Gold Soaring As Dollar Loses Reserve Status
With the market meltup accelerating at an unprecedented pace, and hitting new all time highs day after day even as broad S&P valuations are now at nosebleed levels last seen during the dot com bubble…
… investing luminaries have emerged from the woodwork to issue increasingly dire warnings to anyone who buys stocks here.
And so, two days after Oaktree founder Howard Marks told Bloomberg TV that “now is not a good time to be investing”, Greg Jensen, the co-CIO of Bridgewater, warned that he his fund was cautious on stocks, describing them as “frothy” as “most of the world is long equity markets in pretty extreme situations”, and predicted that gold would soar to $2000 and higher because the Fed and other central banks would let inflation run hot for a while and “there will no longer be an attempt by any of the developed world’s major central banks to normalize interest rates. That’s a big deal.”
In an interview with the FT, the man who oversees $160 billion at the …read more
Source:: Zero Hedge