Belkin – We’re Facing A 1987 Selloff & Eventual Hyperinflation
February 1, 2013
Today the man who counsels prominent hedge funds, investment banks, institutional money managers, mutual funds, pension funds, and high net worth individuals across the globe, told King World News that he believes we are facing a 1987 type scenario where the markets will get badly shaken. Belkin, President of Belkin Limited, also believes we are eventually headed for a destructive hyperinflation where gold will have an extended upside move.
Here is what Michael Belkin had to say in this powerful interview: “Back in 2009, in the spring, I was extremely bullish. Back in late 2002 when the stock market bottomed I was bullish on the economy and on markets. The time to buy is when blood is in the streets. We are so far from that.”
“The markets are so overextended. The markets have been going up since 2009, for almost 4 years now. We need to have a selloff, that’s a healthy thing for the market. The other thing I would like to say is sell rallies. When the market is going up you buy the dips and the trend bails you out.
When the market is going down you sell aggressively into these brief, two to three day rallies that we’ve had, and that’s what I’m telling my institutional investors to do.”