Former Fed President: All My Very Rich Friends Are Holding A Lot Of Cash

If you put together a list of the world’s most brilliant, most famous investment experts… they were all at John Mauldin’s Strategic Investment Conference last month.

My head is still spinning with all the information and investment ideas I heard at the conference, but the consensus among the majority of speakers was that things are going to get ugly.

Lacy Hunt, David Rosenberg, Neil Howe, Jim Grant, Mark Yusko, Gary Shilling, and even John Mauldin (watch video interviews with these speakers on Mauldin Economics’ Youtube channel) painted a very pessimistic picture for the stock market—but the most alarming comment came from Richard Fisher.

Dallas Fed Collapses At Fastest Pace Since Lehman, Lowest Since June 2011

Yours truly,

OPEC/Saudi Arabia

 

 

Dallas Fed’s Richard Fisher had his credibility (whatever is left) crushed for the 4th month in a row. After explaining carefully to no lessor status quo glad hand than Steve Liesman that the Texas economy will see a net positive from low oil prices, Dallas Fed data has utterly collapsed – at its fastest pace since Lehman. Printing a stunning -17.5 (over twice as bad as expected -8.5), this is the 4th miss in a row (and increasingly worse misses).