RICHARD RUSSELL: “SELL ANYTHING”

Reading Richard Russell’s daily notes are like reading a real-time history book. Like any investor, he is often wrong, but his knowledge of the history of the market is truly unmatched. He is one of the few men who is still around to tell us about the Great Depression and how similar today’s economy feels. Russell has become increasingly bearish since early April. He says the market is crumbling and believes the internals are so bad that the market is very vulnerable to substantial downside. He even goes so far as to say the we won’t recognize the country by the end of this year. “There’s a hard rain coming”. Yikes

Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.”

via RICHARD RUSSELL: “SELL ANYTHING” | PRAGMATIC CAPITALISM.

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