The most honest stockbroker in the entire world, everyone: Alessio Rastani
3 1/2 minutes for a heady dose of reality. I’m surprised the BBC didn’t assassinate him.
“Markets are ruled by fear.
The market is toast. The stock market is finished. The Euro – they don’t really care. They’re moving their money away to safer assets. Personally, it doesn’t matter. I’m a trader. I don’t really care about that kinda stuff. If I see an opportunity to make money, I go with it so for most traders it’s not about, we don’t really care how they’re gonna fix the economy, our job is to make money from it. Personally, I’ve been dreaming about this moment for years, I have a confession which is: I go to bed everynight, I dream of another recession. I dream of another moment like this. Why? Because the Thirties Depression, wasn’t just about the market crash – there were some people who were prepared to make money from that crash and I think anybody can do that. It isn’t just for some people in The Elite. Anybody can actually make money, it’s an opportunity. When the market crashes, when the Euro and the big stock markets crash, if you know what to do, if you have the right plan set up, you can make a lot of money from this. For example, hedging strategies is one, investing in bonds, treasury bonds, that sorta stuff.
This economic crisis is like a cancer. If you just wait and wait, thinking this is gonna go away, just like a cancer it’s gonna grow, and it’s gonna be too late. What I would say to everybody is: Get Prepared. This is not a time right now to … wishful thinking that government’s gonna sort things out, the governments don’t rule the world, Goldman Sachs rules the world. GS does not care about this rescue package, neither does the funds. So actually, I would tell people, I wanna help people. People can make money from this, it isn’t just traders. What they need to do is learn how to make money from a downward market.
The first thing people should do is protect their assets. Protect what they have. Because in less than 12 months , my prediction is the savings of millions of people is gonna vanish and it’s just the beginning. I would say be prepared and act now. The biggest risk people can take right now is not acting. [complacency]”
The prediction is correct, if not for the QE programmes backed by the World Bank and IMF that have staved it off thus far.
Anyone have tips to add?