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Your Money Manager Is Not Prepared for This

Your Money Manager Is Not Prepared for This

Will Dubby Fuqua-Friend and Artist

By Wednesday, 01 April 2020 07:00 AM Current | Bio | Archive

The market has fallen over 30% from the highs.

Maybe you have already called your fund or 401(K) manager and asked to liquidate your losers or the entire account.

Here is what you probably heard.

“I don’t recommend it.”

That is typically followed by, “If you do pull out now, you will miss the opportunity when the market turns.”

I say to that GREAT, you did such a fine job doing nothing for the last 30% downturn, I will see you in the next 20% downturn.

These managers are only paid to buy.

They have very little idea about bear markets.

And, they lose their jobs anyway when clients lose too much money or pull out in mass.

Then, like in 2008, they suffer post traumatic stress and do not buy when the market finally bottoms.

Of course, the public sells the lows and buys the highs.

But this is not the low.

On another note, rumors are circulating that there is a potential for an Iran-backed attack against the U.S. in Iraq.

One way to get oil prices up quickly is to start a war or blow up a few oil fields like what happened in 1990.

Ask you fund manager what they would do in that case?

Well, one thing I can tell you is, if you mention the term stagflation, they will have to look that up.

Here, I have warned you over and over that once the FED’s offering U.S. dollars in exchange for treasury debt cools down, the pandora’s box for stagflation is huge.

And so it goes.

Your fund manager is not your friend.

Heck, you are probably smarter than they are. (Especially after you read this!)

Finally, regardless whether those rumors turn out to become facts, you’ll still be so glad you took control over your money!

Here again are the signs to watch:

  • A debasing dollar and more of a sell-off in high yield bonds.
  • Gold futures to hold around $1580 and clear $1620, $1680, and then $1700.
  • Food commodities to start to rise.
  • And now, oil futures to return over $24 a barrel.

Michele ‘Mish’ Schneider serves as Director of Trading Education at MarketGauge.com. For 20 years, MarketGauge.com has provided financial information and education to thousands. MarketWatch named Mish one of the top 50 financial people to follow on Twitter. In 2018, Mish won the Top Stock Pick of the year for RealVision. Follow her on Twitter at Michele Schneider @marketminute.

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Your Money Manager Is Not Prepared for This
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Wednesday, 01 April 2020 07:00 AM
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