Top money manager cuts exposure, warns stocks are too expensive

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Top money manager cuts exposure, warns stocks are too expensive (via TradingNation)

. All the areas that might indicate a more durable recovery in the economy. They're all stuck below 2018 lows."

Plus, Mills suggests it's hard to firmly rely on Street estimates. According to Mills, earnings and economic estimates could be all over the map because the unprecedented shutdowns are putting"To predict exactly where the data is going to come in relative to expectations, it's just really, really difficult," he said. "We are inventing new charts to even capture some of the data we're seeing.

For now, he's partial to having more cash than usual on the sidelines. He's also looking to the bond market. "There's still opportunity in areas like investment grade credit. Credit spreads are still pretty wide," Mills said. "They're at levels that we saw in 2015-2016, when there were issues with oil."

 

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TradingNation Basically you all are buying up everything he wants. Stop it so the poor dude can get in lower or he won’t get his performance bonus.

TradingNation What is your basis for the label “top money manager” . Are we to believe every Tom, Dick, or Harry as to their opinion? Get real CNBC, This guy is just another joker/pretender who is full of himself. Forget what he says; it’s just his BS.

TradingNation Finally a rational money manager, I don’t how people want to try and be bullish during this time. 36mm jobs are not coming back by year end, and many of those jobs will not come back at all.

TradingNation Same here. Tons of cash. Pushing in on the breakouts and shorting the breakdowns. That’s the only game that makes sense right now.

TradingNation I understand they can do what ever they want to their portfolio. I just don’t understand why they want to tell other people through the media. 🤔

TradingNation In other news, water is wet

TradingNation Good for him

TradingNation One man, at one single point in time, has an opinion on an unknowable future. That would be an accurate headline....

TradingNation This same guy said to short thru April/May lmaooo

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