Skip to content
Subscriber Only

Economist: Sell Your Stocks and Take Six Months Off

22. Sugar Beach
Updated on

Investors should sell any equities bought over the past year, hold the proceeds as cash and take a holiday from the market for six months, according to Steen Jakobsen, Saxo Bank A/S’s chief economist.

A likely increase in U.S. interest rates will intensify market volatility and threatens to wipe out any gains investors may have made in the past two years, Jakobsen said in a March 29 interview in Dubai. Slower expansion in the economies of the U.S. and China will also hurt investors holding stocks, said Jakobsen, who last year predicted a drop in oil prices to below $80 a barrel.