Avoid the markets now, economist says
Posted
Aug 20 2008, 12:44 PM
by
Kim Peterson
Rating:
Avoid the stock markets altogether right now. That's the opinion of noted investment economist Enzio von Pfeil, who appeared on CNBC Asia.
Even though stocks are at their cheapest valuations in a decade, von Pfeil says to keep an eye on the conflict between Russia and Georgia. We could be seeing a resurgence of the Cold War, he said, and any blowup could send the markets south.
Von Pfeil was also concerned about the Fed bailing out individual banks. That could compromise its independence and weigh on the dollar, he said.
