One of the surefire ways to measure a money manager’s comfort with the markets is to look at his or her cash levels. High cash levels are indicative of managers who have already sold and are very fearful.Low cash levels are indicative of managers who have already bought their fill and are very confident in the market’s future...... Bank of America Merrill Lynch surveyed 191 money managers with $510 billion in assets. The findings... [are] a clear signal:... Fear was the word in the latest survey. Cash levels jumped to 5.5 percent, the highest level since Lehman Brothers’ bankruptcy and the financial crisis in 2008.I SPOKE WITH AN INTERNATIONAL BANKER HIS EVENING, AND HE FELT GREECE, EUROPE, JAPAN, CHINA AND THE USA ALL HAD HUGE DEBT PROBLEMS THAT WERE NOT GOING TO GO AWAY.
I HAVE NEVER SEEN HIM SO ANXIOUS.... NOT FOR THE NEAR-TERM, BUT FOR THE MID-TERM AND LONG-TERM.
WHAT CANNOT GO ON FOR EVER, WON'T.
THE TIME TO GET READY FOR THE CRASH IS NOW.