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05-23-2010, 05:06 AM #1
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Money Manager Lekas: Dow Will Crash to 4,200
Money Manager Lekas: Dow Will Crash to 4,200
Friday, 21 May 2010 12:46 PM
By: Dan Weil
Rising U.S. interest rates and continued debt bailouts around the world will send U.S. stocks crashing at least another 60 percent, says John Lekas, chief executive and portfolio manager at Leader Capital.
The Dow Jones Industrial Average will hit 4,200 to 5,000 in the second quarter of 2011, he says.
Lekas wasn’t impressed with the nearly $1 trillion plan to stave off Europe’s debt crisis.
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05-23-2010, 05:07 AM #2
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Roubini Predicts 20 Percent Stock Market Fall
Friday, 21 May 2010 08:44 AM
By: Julie Crawshaw
New York University economist Nouriel Roubini says stocks will tumble another 20 percent, that cash is the safest place to be and that investors can use options to hedge against future market risk he is certain will come.
"There are some parts of the global economy that are now at the risk of a double-dip recession," Roubini says. "From here on I see things getting worse," says the head of Roubini Global Economics.
"What needs to be done is clear. We need to raise taxes and cut spending. Otherwise we're going to get a fiscal train wreck," he told CNBC. "It's going to take years of sacrifices."
A slowdown in the U.S. economy coupled with weakness in the euro zone will cause price drops in both stocks and commodities and leaving little room for growth in most investment classes, Roubini says.
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