It's 2000 All Over Again...And That's Not a Good Thing!
There are several great observations from this year’s Strategic Investment Conference. For example, Richard Fisher's (former president of the Federal Reserve Bank of Dallas and a voting member of the Federal Open Market Committee from 2005 to 2015) most telling comment came during the Q&A session when he was asked how his personal portfolio was positioned. Fisher’s response: “In the fetal position"...he also added, "All my very rich friends are holding a lot of cash.”
As the chart below suggests, it's NO secret what Fisher and his "very rich friends" think is about to happen next with the stock market.
In addition to the above, it's interesting to point out that the the average stock return for the eighth year of ALL US presidential terms since 1901 is -14%. So if you liked 2000 and 2008, you should love the way 2016 ends.
For more observations from Forbes Magazine about this year's Strategic Investment Conference, click HERE: