The stock market is due to collapse by over 50% this year, according to a number of experts who have become increasingly outspoken.
Following Swiss adviser and fund manager Marc Faber’s warning
last month that a crash bigger than ’87 is looming, head fund manager Mark Spitznagel has announced that we “must absolutely expect” a severe and imminent stock market crash, Money News
And it has been rumoured that billion-dollar investor Warren Buffett is also preparing for a crash: the “Warren Buffett Indicator,” also known as the “Total-Market-Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment.
But Sean Hyman, founder of Absolute Profits
, said it’s not wise to get out of the market right now.
“There are specific sectors of the market that are all but guaranteed to perform well during the next few months,” he said. “Getting out of stocks now could be costly.”
Hyman uses a secret Wall Street calendar that has apparently beaten the overall market by 250% since 1968. It lists 19 investments and 38 dates to buy and sell them, and it seems to work.
During an interview with Bloomberg Television in 2012, Hyman correctly predicted that Best Buy would drop to $11 a share, before rallying back up to $40 a share over the next few months. It did exactly as he anticipated.
And subsequently and during a Fox Business interview in 2013, Hyman forecast that the market would rally to new highs of 15,000, despite the massive sell-off at the time. Almost immediately the market rebounded and hit his targets.
Less than one in ten young people are interested in pursuing a career in financial services, with many seeing it as “full of numbers” or “boring”.
A YouGov survey for the Chartered Institute for Securities & Investment put the sector tenth out of eleven professional fields they would want to work in, with only construction coming lower, reported the Financial Times
The survey concluded that young people were potentially being influenced by teachers and parents, whose own lack of understanding stems from poor levels of numeracy and fear of numbers.
The findings also suggest that the industry continues to have a post-crisis problem of public perception, even though it contributed the highest of any sector at £65 billion to tax revenues in 2012-13.
Four out of five parents thought that financial services offered the potential to earn a lot of money, however 44% also though working in the sector was “not socially responsible”.
The survey questioned 800 teachers, 1,100 parents with children under 18, and 500 young people aged eight to 15.
Job vacancies in financial services in London have climbed to a massive 67% last month as firms sought to manage increasing compliance demands from regulators.
Staff vacancies in and around London’s main financial district increased to 8,955 last month, up from 5,355 in April 2013, recruitment firm Morgan McKinley said in a statement.
Furthermore, average salaries for new hires rose 21% in April from 20% a month ago, the Bloomberg
Securities firms have been expanding their compliance departments in particular following investigations by U.K. and global regulators into the manipulation of benchmark interest rates, the alleged rigging in currency markets and money laundering.
“Organizations are seeking risk and compliance specialists, with an increase in funds compliance advisory roles and distribution-compliance roles within the last month,” Hakan Enver, operations director at Morgan McKinley Financial Services, said.