As investors, we're always balancing our desire to grow our money with our fear of losing it.
That balancing act has never been tougher.
We've entered a strange and uncertain world where the US stock market takes off, even as economic growth slows down. A world where "safe" assets are risky. A world where investors have more information, but less insight about what it means for their portfolio. We've entered a "new normal."
In a world like this, how can you tell the difference between meaningless noise and something that you need to know?
You can find the answer to this question, and many more right now. Simply register and watch the recording of John Mauldin – a renowned financial expert and editor of one of the most widely read financial newsletters in the world – holding an exclusive online event to help investors navigate the "new normal."
Investing in the New Normal is a unique event, with insights and actionable intelligence from the most respected investors and economists in the world.
These are experts who are:
- Trusted to manage the assets of multibillion-dollar pension funds and university endowments;
- Sought out by policymakers for their advice; and
- Constantly analyzing the intersection of markets and policy.
The pros that Mauldin Economics has brought you have seen – and profited from – big market moves before they happened. They saw the residential mortgage mess coming in 2008, the market opportunities arising in 2009, and the implications of the euro crisis when it began in 2011.
They recently spent an hour talking to one another and delivering invaluable insights to you. We've cut through the clutter to help you navigate this "new normal" – where global economic uncertainty is likely to continue for years to come, bringing with it lower market returns and more volatility. That is, unless you know where to look and what to look for.
The "new normal" means that "buy and hold" just isn't a viable investment strategy anymore. Many tried-and-true investment strategies will unfortunately saddle investors with subpar returns, sleepless nights, and delayed retirements. But that doesn't mean that you have to settle for the same.
There are opportunities – big opportunities – if you know where to find them. And the Investing in the New Normal experts tell you exactly where to look.
You have almost certainly seen our Investing in the New Normal participants quoted or interviewed before, but you have never seen them like this.
For this hour, they'll tell you what they've heard from CEOs, central bankers, and big-league investors around the world.
They'll tell you where capital is flowing and why.
They'll tell you how you should position your portfolio in light of world- and market-altering events.
Recent events such as:
The Euro Crisis: The slow-moving economic crisis in Europe took a frightening turn in March, when the European Central Bank forced depositors in Cyprus banks to pay for a part of that country's bailout package. Some depositors could lose more than half their assets. In the future, depositors throughout Europe will wonder if their money is safe from EU bureaucrats. Greece and now Cyprus have threatened the very existence of the European Union in the last year. What happens if a bigger country like Spain, Italy, or France becomes the epicenter of a similar crisis? And how will investors know when disaster is about to hit?
Central Bankers Crank Up the Printing Presses: There seems to be no end to the amount of money that the world's central bankers are willing to print. Since the onset of the global financial crisis in 2007, the US Federal Reserve, the European Central Bank, and the Bank of Japan alone have more than doubled the combined size of their balance sheets, expanding them by a total of $4.7 trillion. In April, the Bank of Japan took the unprecedented step of announcing that it aims to double its own balance sheet by the end of 2014. The central bankers are hoping this added liquidity will stimulate the global economy – but at what cost? Is inflation on its way? Are the central bankers blowing up more asset bubbles that are primed to pop?
The Impossible Hunt for Yield and Income: What's an income investor to do when formerly safe investments aren't safe at all? Stuffing money under the mattress doesn't look so bad when most bonds are severely overpriced and when CDs and money markets are paying you fractions of a percent. Which assets and investments can deliver the yield you need without exposing you to the risk you can't afford?
Debt, Debt, Debt: In 2010, Ben Bernanke – the chairman of the Federal Reserve – testified before Congress that the "exceptional" increase in the deficit left the US federal budget on an "unsustainable path." Little has been done in the wake of Bernanke's warning – US government figures put the US debt-to-GDP ratio at 73%, but some well-respected economists believe it already exceeds 100%. Countries like Japan (whose debt is 214% of GDP) and Italy (126%) as well as ones that are perilously close, like Britain (89%) and Spain (85%), are in even more dangerous positions due to their borrowing habits. Unfortunately, none of these countries has developed feasible plans to curb the runaway government and entitlement spending that is driving these deficits. Do any of these countries have the political will to act? And if they don't, what does that mean for your investment portfolio?
Washington Dysfunction: The US Congress has a well-deserved 9% approval rating for continuing to be driven by gridlock and dysfunction. Washington has recently given us a debt-ceiling debacle and a fiscal-cliff fiasco, and there are likely more crises to come, as Democrats and Republicans have shown little willingness to work together. Is there any hope for a long-term deal on taxes and entitlements between President Obama and the House Republicans? If not, how long before bond market vigilantes turn their attention to US Treasuries?
Investing in the New Normal won't just help you make sense of these rapidly changing world events – it will help you understand how events in Brussels or Washington or Tokyo will impact your portfolio. And that has never been more important than it is right now. When stocks in New York are rising and falling based on a stray word from the prime minister of Cyprus, you know that the world has changed. Successful investors need to do a lot more than peruse a company's annual 10-K filing. You need to understand the macro issues that are driving our interconnected global economy.
Sure, you can turn on the TV or the radio and get an earful from commentators pontificating on these issues. But most likely, you'll hear this analysis in ten-second sound bites ten days after big investors have already traded on the news.
Investing in the New Normal features a full hour of unfiltered conversation and uncensored analysis from John Mauldin and some of the top economists and investors in the world.
This event provides valuable and timely takeaways for every investor.
- Are you a sophisticated investor or advisor looking for an added edge for you or your clients?
- Are you a retiree or near-retiree looking for asset classes that will provide a better and safer yield to boost your income?
- Are you sitting on the sidelines in cash because you don’t feel like anything is safe?
Whoever you are, Investing in the New Normal will empower you to make the right decisions for you and your family's financial future.
Please register and watch this free, online video event right now. Just enter your email address on this page, and you'll automatically have access to the recording of this web broadcast.
Investing in the New Normal is your chance to make sense of it all, to figure out how you can find upside in a world turned upside down.
J Kyle Bass,
Managing Member, Hayman Capital Management
Rose to fame with prescient bets against the residential housing market before the 2008 financial crisis.
Dr. Mohamed A. El-Erian is CEO and co-CIO of PIMCO, the global investment management firm with $1.9 trillion of assets under management..
Chairman, Mauldin Economics
World-renowned economist and financial writer of the New York Times best-selling books Bull's Eye Investing, Just One Thing, and Endgame.
Chief Investment Officer, The Ritholtz Group / Fusion Analytics
Noted investment strategist and author of the book Bailout Nation
Chief Economist & Strategist, Gluskin Sheff + Associates Inc.
Often ranked as an Institutional Investor All-Star and named the most accurate economic forecaster of 2011 by MSNBC
Dr. John Hussman,
President, Hussman Econometrics
Founder of the Hussman Family of Mutual Funds
Publisher, Mauldin Economics