An Even Bigger Bear
Posted by: Lauren Young on June 18
I received an email from Rob Arnott, chairman of Research Affiliates, today about this story . It seems the Royal Bank of Scotland is even more bearish than Arnott. The firm is telling investors to brace for “a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.”
“And BusinessWeek thinks I’m ‘the bear’?” Arnott says of the recent profile I wrote about him in BusinessWeek.
Arnott gives RBC’s scenario “very low odds, though of course anything is possible.”
“I’m just calling for another leg to the bear market, not a global market crash!” Arnott adds. “The prescription in both cases is simple: Invest conservatively until bargains abound.”
Do you agree with Arnott? Or do you think a crash is coming?
Reader Comments
patrick donahue
June 19, 2008 04:42 AM
to early to tell.there's a 50/50 chance
this story could be credibule but it's
unlikely a global market crash would occ
ur.all we can do is wait until september
maybe.
Robert Barron
June 19, 2008 06:00 AM
Only fools or liars predict the future.
Post a comment
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Businessweek’s Lauren Young, Aaron Pressman, Matthew Goldstein, Emily Thornton, Amy Feldman, Ben Levisohn, and Ben Steverman focus on matters great and small for investors, from the views of a hot fund manager to an explanation of the latest products devised by Wall Street’s rocket scientists. Exploring trends in any area, from bonds and stocks to closed-end funds and futures, always with an eye towards giving investors a better understanding of the sometimes confusing and often chaotic world of finance. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.
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