Market Watch: How a Halloween Storm Could Deliver a Catastrophic Blow to the Stock Market
Article by Shawn Langlois in Wall Street Journal Market Watch
Jim Rickards, bestselling author has seen just about everything over his four decades navigating capital markets. What he hasn’t seen, however, is a better climate for a market “catastrophe” than the one we’re in now.
Rickards, who long ago also served as general counsel for hedge fund Long-Term Capital Management, says that mass complacency and euphoria has always been a recipe for historic meltdowns.
“Unfortunately, a political and market perfect storm is now on the way and may strike as early as Halloween 2019, marking a new ‘Halloween storm,’” Rickards wrote in a blog post this week. “Get ready. I cannot imagine a better setup for catastrophe. No one ever sees disaster coming. That’s the point.”
Rickards says, at that point, the only “safe harbors” will be gold, cash and Treasury notes.
To read this article in Wall Street Journal Market Watch in its entirety, click here.