The trolls are back!
Since equity markets bottomed in February, a growing chorus of market prognosticators -- from outright haters to permabulls and everyone in between -- have been chirping our calls from the cheap seats.
Let's set the record straight.
We still believe U.S. equities are headed for a crash. Myriad macro market risks loom ever larger over the U.S. economy (see corporate profits and flagging economic growth). These risks are as relevant today as they were earlier this year when the market sold off. They have not gone away.
Set aside for a moment that the permabulls most dismissive of our bearish market calls got run over by the selloffs we warned subscribers about in July and again in December. Let's take a look at some cold hard facts. In particular, how our top Long and Short ideas we recommended heading into 2016 have performed.
Long The Long Bond (TLT):
LONG UTILITIES (XLU), SHORT FINANCIALS (XLF)