Steen Jakobsen, Chief Investment Officer and Chief Economist of Saxo Bank, is sounding a clear warning of an arriving market correction.
Over-inflated asset prices, over-crowded trades, anemic market liquidity, and a continued decline in the credit impulse set the table for a banquet of consequences, in Steen's view.
Confident a market correction of at least 15% lies ahead, Jakobsen urges investors to exit leveraged positions and build cash. As for a longer view, he predicts commodities will be one of the best asset classes to own over the next five to ten years.
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