| Videos | Channels | Search |
Jakobsen on the worrying echoes of 1999
Steen Jakobsen has a warning to investors: there are too many similarities to the economic conditions of late 1999 today in 2013 and it's a major concern. Saxo Bank's Chief Investment Officer says until the last three months of that year, "everybody" under-performed. Then there was a massive move into equities. He says too many people were mispricing the Federal Reserve at the time and we're seeing the same thing now. Big falls in global stock markets occurred in the first part of 2000.
Steen recently announced he was moving eighty per cent of his portfolio into fixed income and he's warning again about over optimism in the global economy. "Things are not alright!", he says. Yes, the fourth quarter is looking good but he maintains that in 2014 it'll start to dawn on us just how slow the US economy and the global economy really is. Only then will people realise there's a need for a fundamental rethink over how we conduct monetary policy.
01:48 minutes
Tags: 1999, 1999 2013, bonds, bubble, economic, economic bubble, economic conditions, economic outlook, economic warnings, equities, fed, federal reserve, fixed income, fomc, fourth quarter, gdp, germany, global economy, gobal outlook, how to invest, investment strategy, mispricing, monetary, monetary policy, over optimism, policy revolution, q4, rethink, rethink monetary, revolution, revolution in policy, saxo, saxo bank, saxo tv, saxotv, similarities to 1999, steen jakobsen, trading, tradingfloor.com, usa, video