Russell Napier: The Next Crash
Sorry for the gloomy title, but here is a great FT.com interview with Russell Napier (w/ a link to part 2), author of Anatomy of the Bear. Here, Napier discusses how secular bear market lows can often be identified by looking at Tobin's Q ratio, along with cyclically-adjusted P/E ratios. In part two, Napier offers his views on the efficient market hypothesis and a forecast for a 'cataclysmic' bear market to come.
For those who'd like to know more about Russell Napier and his views on bull and bear market cycles, please see our post, "Anatomy of bear markets", where you will find an article by Marc Faber discussing Napier's work and a 2006 interview with Napier on the Financial Sense Newshour.
posted by David @ 10:34 AM
5 comments
5 Comments:
"The worst investment in the world today is US Treasurys."
Interesting stuff David.
The cycles of world market is a very interesting matter. I'll read the post on the blog "Anatomy of bear markets" which you have advised.
Thanks David.
@BMB - Right on, thanks BMB.
Did you ever catch that 2006 FSN interview with Napier? I remember digging up the link not so long ago for someone; will have to revisit it myself.
@Giorgio - Thanks, Giorgo. If you liked the latest Napier clip, be sure to check out that 2006 interview link in the 'Anatomy of bear markets' post. I remember that it was a very interesting discussion!
I'll search that 2006 Napier interview. Thanks again.
He scares me.
Personally, I am afraid of a shift from a dollar driven market. I believe it could wipe out the world's largest economy and the world's largest buyer. Stating that the worst investment in the world are US Treasuries don't help.
Then where would we all end up?
- Angelo
from Refinance Bad Credit Blog
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