If you’ve been in two minds as to whether to add gold to your portfolio or invest in bricks-and-mortar, one market strategist has a grim forecast for both the stocks and real estate market.
Chris Vermeulen says that he doesn’t expect real estate or stocks to fare well over the next decade, saying it could take as long as 10 years to see previous highs restored. “The scenario that we’ve had in the equities market has been very extreme,” he explained.
“A hedge fund manager came out on Market Watch and he kind of said what I was thinking which is…he thinks there’s going to be a decade-long bear market in equities. It may be not a decade long bear market, but we could have a very long time before the market recovers and gets back to where we are.”
With the NASDQ and S&P 500 both struggling in 2022, it’s unlikely we’ll see a substantial recovery in the near future. “I think we can go into a sideways rally into the end of the year, and as the market kind of rebounds,” Vermeulen added. “I think eventually we’re going to start a much bigger market correction that can take a lot longer.”
In this environment, expect gold to thrive as a safe haven.
