Monday, April 14, 2014

Bad market crash warning

I think there are some groups of stocks that are highly vulnerable because they're in cuckoo land in terms of valuations. They have no earnings. They're valued at price-to-sales. And this is not a good metric in the long run.

I think it's very likely that we're seeing, in the next 12 months, an '87-type of crash. And I suspect it will be even worse.