How To Position Your Money Ahead Of Unprecedented Turmoil
February 22, 2014
Today one of the most respected money managers in the world gives KWN readers around the globe an exclusive look at exactly how he is positioning his own firm’s money into the teeth of the Fed’s tapering. This is one of Michael Pento’s, founder of Pento Portfolio Strategies, most timely and important pieces he has ever written.
By Michael Pento of Pento Portfolio Strategies
February 22 (King World News) – How To Position Your Money Ahead Of Unprecedented Turmoil
Wall Street and Washington have summarily dismissed the recent spate of disappointing economic data by claiming it is based solely upon the weather. The equity market is 100% convinced that winter is to blame for the faltering economy; and that even if stocks have it all wrong, Ms. Yellen and Co. will immediately print enough money to make everything OK.
For example, Industrial Production fell 0.3% and Retail Sales dropped 0.4% in January. Also, the last two Non-Farm Payroll reports came in far below estimates, and there were just 113,000 net new jobs created last month. Especially interesting in this latest report was that 48,000 construction jobs were added in January….