Is the 2001, smash hit by French electronic duo Daft Punk.
For those, who think that the recent trashing of the stock markets globally is over.
Think again. A man managing more than US100 billion says, a crash will happen in the coming weeks one more time.
Bloomberg has the story. Read below:
If you were planning on putting your money back into stocks, you might want to hold on.
That’s the message from Nader Naeimi of AMP Capital Investors Ltd. who’s still hanging on to the bulk of his cash reserves for another possible selloff by March.
After an initial sharp selloff, equity markets typically have a brief recovery before another bout of sustained selling, said Naeimi, AMP’s head of dynamic markets who helps oversee about $120 billion at the firm. After moving some 30 percent of his assets to cash last year, Naeimi is waiting for that second round to occur before jumping back in.
“The plan is to buy in the second leg down, usually it’s best to wait for the markets to build a base before committing heavily back into the buy side,” Naeimi said in an interviewwith Bloomberg Television. “As we go to the Fed meeting March 9, I think there will be more potential volatility weakness.”
