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.
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.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.