Friday, March 25, 2016

Harry S. Dent Jr. & Bob Hoye

March 25, 2016
Featured Guests:
Harry S. Dent Jr. & Bob Hoye

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Summary:
Chris welcomes back Bob Hoye, senior investment strategist at Institutional Advisors.
Our guest says a new cyclical PMs bull market is underway - he favors the PMs shares. US dollar weakness may indicate a top is in place.
The FOMC has lost control of the economy, backpedaling on rate hikes and returning to a more dovish stance.
Seasonal factors are positive for both commodities and the energy sector.
The host suggests increasing investment portfolio weighting in the PMs and energy sectors.
Harry S. Dent Jr., says gold is far more appealing that US stocks on a valuation basis, noting: "I would buy gold over US shares any day of the week."
Thanks to Fed rate tapering, funds have been redirected into commodities, especially gold.
Our guest notes that gold is the best inflation hedge available to investors.
Given that the future is rarely 100% knowable, a 10-20% gold / silver investment portfolio component is advisable.
The recent stock market gyrations could indicate a crash is imminent, similar to the 2008 meltdown, but perhaps even worse.
Unlike cash in the bank earning negative interest rates around the world, gold does not carry the burden of a negative interest rate.
The host / guest disagree on the inflation / deflation debate - the host notes the recent plunge of the US dollar that is anti-deflationary.
Mr. Dent's ontology indicates that central bankers are deleveraging the greatest debt bubble in global history.
US stock indexes will drop at least 70% in the next few years, according to Mr. Dent. Eventually a second Great Depression is inevitable
Although policymakers are delaying the day of reckoning, eventually the FOMC will resume QE efforts with gusto.
The Fed's current balance sheet indicates zero signs of tapering, plateau at best (Figure 1.1.)

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Chris Waltzek
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