Swedish billionaire just sold his ENTIRE stock portfolio – says major crash is coming
"One of Sweden’s most prominent investors, Rune Andersson, has officially quit the stock market as of this January."
he said "“I currently own zero stocks”,
"Andersson, with an estimated net worth of 9 billion SEK ($1bn), cites ever-soaring stock prices as the reason behind his big sell. "
"The 72-year old financier sees a systemic problem that affects many major stocks today. "
"Andersson says high price-to-earnings ratios (P/E) - around 20 for many stocks - indicate major problems. "
"By the turn of the year, Andersson says, he had a feeling that the stock markets have been doing too well for too long. "
what will be the catalyst?
“As always, this will end in tears. I think the market will turn around; and what will trigger this? I think it happens as soon as interest levels start normalizing.”
“If we would have a 20 percent dip in the stock market, I could consider buying again.”
READ MORE HERE -----> http://nordic.businessinsider.com/a-swedish-billionaire-just-sold-his-entire-stock-portfolio-citing-ridiculously-over-leveraged-markets-this-ends-in-tears-2017-3/
What effect do you think such a crash would have on the cryptocurrency market?
The effect on the cryptocurrency market would be positive. Why people will seek to protect their money.
It seems like people would look into other types of currencies. Obviously BTC would get first dibs in the crypto world but I think overall it's good for many other cryptos.