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About Chen Lin
Author "What is Chen Buying? What is Chen Selling?" Chen grew $5,400 to $2.3 million in 10 years. Learn More
David Stockman: Get out of Stocks Now!
David Stockman and Michael Oliver return as guests on this week’s radio program.
The S&P surged to an extremely overpriced 26X PE as investors bet that Trump can restore economic growth and corporate profits again. But how rational is that given that Americans had just elected the most disruptive, erratic, undisciplined, impulsive, glandular, ill-informed and unpredictable President ever?
David views Trump not as a national savior but as a disrupter of existing evil. In the disruption process we should expect no end of caprice, cacophony and chaos from Washington. David explains in detail why he told his paid subscribers to get out of stocks now! Meantime, Oliver’s technical analysis agrees with Stockman’s fundamental views on the S&P but he sees gold shares entering a new bull market.
David Stockman was formerly a senior managing director of The Blackstone Group. Prior to joining Blackstone, Mr. Stockman was a managing director at Salomon Brothers, Inc. He served as the director of the Office of Management and Budget in the Reagan administration from 1981 to August 1985 and was the youngest Cabinet member of the twentieth century. From 1976 to 1981, Mr. Stockman represented Michigan in the House of Representatives.
Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX. In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology. In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism