Bob Janjuah is ‘tactically bearish’ now
Nomura’s Bob Janjuah was on Bloomberg Television’s "Inside Track" with Erik Schatzker this morning, discussing his outlook as well as the crises in the U.S. and Europe. He opened the session by saying he is tactically bearish over the next two to three months after the recent Santa Claus rally in shares and commodities. He’s looking for a ten percent correction in U.S. equities.
Janjuah is focussing on three themes for 2011:
- Is Asia gong to slow down? If so, will it be a hard or soft landing and what are the global implications? Janjuah thinks it would.
- Is Europe closer to the end-game i.e. will we need another crisis to get beyond the European debt problem? Janjuah says Europe seems close to the end game.
- How sustainable is the U.S. economic recovery? Janjuah says he sees a repeat of the 2010 slowing and renewed quantitative easing.
Watch the video to understand how he comes down on these issues and the implication for different asset classes and asset allocation overall.