Summers Warns Economy in Grave Danger If Stimulus Lapses
Former U.S. Treasury Secretary Larry Summers said he’s never seen a more uncertain recovery, especially if Congress doesn’t act strongly and quickly.
Former U.S. Treasury Secretary Larry Summers said he’s never seen a more uncertain recovery, especially if Congress doesn’t act strongly and quickly.
The pandemic of 2020 would soon show itself to be the driving force behind one of the most ferocious rallies the gold market has ever seen.
"I believe in economic recovery, but I think that the valuations are just too high relative to the uncertainties," the cantankerous billionaire says.
Warren Buffett bought more than $800 million worth of Bank of America stock this week, boosting his stake in the banking titan to north of 11%.
Ackman thinks it's unrealistic to bet on a coronavirus vaccine before next year. As for the rest of 2020, the recovery will ebb and flow, he says.
I stared at my long-term portfolio, got spooked by the 81% that sat in equities and dialed that figure back to a more moderate 60% allocation.
Investment guru Jeffrey Gundlach warns that markets are underestimating the odds that COVID relief will spawn a much weaker dollar.