Legend Who Oversees $180 Billion Discusses 2019 Outlook – Warns U.S. Stocks Entering Bear Market And Says Commodities Are Cheap
KingWorldNews.com
December 17, 2018
With the Dow tumbling another 500 and the Nasdaq plunging more than 2%, the man who helps to oversee nearly $180 billion gave his outlook for 2019. He also warned that U.S. stocks have entered a bear market and commodities are cheap.
2019 Outlook
December 17 (King World News) – Eric King: “Rob, I’m curious about your 2019 predictions.”
Rob Arnott, whose firm, Research Affiliates, helps to oversee $180 billion: “I’m not big on short-term predictions because they are so iffy. I prefer to take long-term predictions and to recognize that if you are looking ahead 10 years and expecting certain 10-year returns, the coming year is the first part of that 10 years, and it’s likely to be in the same general direction.
“The Downside Risk For Bitcoin Is Zero”
So I look at a market that is frothy, bubbly, in things like the FANG stocks, in things like cryptocurrencies. Yes, Bitcoin is back down from $19,000 to (below) $5,000, but what is its fair value? You can’t define a fair value. So the downside risk for Bitcoin is zero.
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