March 7, 2011 – 7:33 amThe big bull market in stocks has done nothing to change Ian Gordon’s views. Mr. Gordon, who has made a name for himself as perhaps the ultimate stock market bear, maintained in his presentation that the Dow Jones Industrial Average is headed to 1,000, while gold is headed to US$4,000.You read that right. Mr. Gordon, publisher of the Longwave Analyst report, is a believer in the so-called Kondratieff Cycle, which evaluates markets based on long-term trends. He believes we are at the stage when all the excess debt has to be flushed out of the system, leading to an utter collapse in the stock market.“The whole system is collapsing, overweighted by a massive debt load,” he said, noting that total U.S. debt has reached about US$57-trillion. Once quantitative easing ends, he predicts disaster.His advice? Put your money in gold. All of it. He sees no reason to go back into stocks until the Dow-to-gold ratio hits a ridiculous low (umm, apparently one-to-four qualifies).He said that all of his assets have been in gold since 2000, and you have to give him credit: that was one great call on gold. For the sake of the rest of us, let’s hope he’s wrong about the stock market.
The big bull market in stocks has done nothing to change Ian Gordon’s views. Mr. Gordon, who has made a name for himself as perhaps the ultimate stock market bear, maintained in his presentation that the Dow Jones Industrial Average is headed to 1,000, while gold is headed to US$4,000.
You read that right. Mr. Gordon, publisher of the Longwave Analyst report, is a believer in the so-called Kondratieff Cycle, which evaluates markets based on long-term trends. He believes we are at the stage when all the excess debt has to be flushed out of the system, leading to an utter collapse in the stock market.
“The whole system is collapsing, overweighted by a massive debt load,” he said, noting that total U.S. debt has reached about US$57-trillion. Once quantitative easing ends, he predicts disaster.
His advice? Put your money in gold. All of it. He sees no reason to go back into stocks until the Dow-to-gold ratio hits a ridiculous low (umm, apparently one-to-four qualifies).
He said that all of his assets have been in gold since 2000, and you have to give him credit: that was one great call on gold. For the sake of the rest of us, let’s hope he’s wrong about the stock market.
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