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GERARD MINACK: Buy bonds, because at least they'll make you poorer more slowly

Gerard Minack / File

As head of global equity strategy at Morgan Stanley, Gerard Minack built a reputation as one of the best — and most bearish — analysts on Wall Street.

He has been warning of a reckoning looming in global stocks for some time as central bank stimulus measures like QE and record-low or non-existent interest rates reach the limits of their power.

Minack saw the recent correction in global stocks as a potential buying opportunity but only for the short term. He said in an interview with Business Spectator he believed a “disinflationary bust” was still on the horizon, even if it was unlikely to fully materialise this year.

Minack:

Bonds seem to me to be the best option, on a two or three-year view. But this is in the context of I don’t have any options for what will make people rich, I’m just looking for options that will try and make them get poorer at a slower rate.

The bear abides.

There’s more at Business Spectator >>

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