Skip to content
Subscriber Only

Strategist Who Saw Late-2018 Stock Rout Drops His Bearish Call

  • Ned Davis Research’s Hayes upgrades stocks to market weight
  • Stock concentration, yield inversion among reasons for caution
Bloomberg business news
Upward Movement in Markets Coming to End: Beschloss

Tim Hayes, whose warning on global equities in late 2018 proved prescient, finally abandoned his bearish stance.

The chief global investment strategist at Ned Davis Research raised the recommended allotment for stocks by 5 percentage points to 55%, in line with the level the firm considers its normal allocation for the first time in more than a year. Investors should put 40% of their money into bonds and keep the rest in cash, he said.