Tags: Nenner War to Erupt in 2012 Dow to Fall to 5 | 000

Nenner: War to Erupt in 2012, Dow to Fall to 5,000

Friday, 11 Mar 2011 12:32 PM

A major war will break out in 2012 and send the Dow Jones Industrial Average plunging to 5,000, says former Goldman Sachs analyst Charles Nenner.

Although the carnage won't take place until the end of next year, the time to get out of the stock market is now.

Just look at the S&P 500 for guidance.

"We went long in 2009 in the first quarter [when] we had a price target of 1,356 on the S&P 500, so we're getting close," Nenner tells Fox News.

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 Former Goldman Sachs analyst Charles Nenner predicts a major war will break out in 2012.
 
"It doesn't mean that we go down immediately, it can take a couple of months. And if we would close in on 1,356, which we're pretty close, we're 1 percent away."

"So I told my big clients, hedge funds, pension funds, and big firms to go almost totally out of the market."

War, Nenner says, will spur the massive sell-off in two years, sending the Dow to 5,000.

"I also do war and peace cycles and it shows that were going to have a major war starting at the end of 2012, beginning of 2013. And I think that's going to do it," says Nenner, without providing specifics.

Even amid Wall Street's rally, only one in seven Americans has faith a lasting economic recovery has taken hold, and many say they are personally worse off than they were two years ago, according to a Bloomberg poll.

"There seems to be something of a disconnect between what people are feeling and what people are doing," J. Ann Selzer, whose Des Moines, Iowa-based firm, Selzer & Co., conducted the poll, tells Bloomberg.

"While admitting a recovery has at least started, the public still feels crummy. They may not feel it has started for them."

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A major war will break out in 2012 and send the Dow Jones Industrial Average plunging to 5,000, says former Goldman Sachs analyst Charles Nenner. Although the carnage won't take place until the end of next year, the time to get out of the stock market is now. Just look at...
Nenner War to Erupt in 2012 Dow to Fall to 5,000
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Friday, 11 Mar 2011 12:32 PM
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