Markets will see a major correction soon, most likely before presidential election, said Clem Chambers of InvestorsHub, who has allocated all his holdings into cash.

Under such a “flash crash” scenario, most assets have a positive cross-correlation and tend to fall together.

“I got a warning from the market about ten days ago…so I cleared the decks because I think it’s highly likely, not absolutely certain, but too likely to be in the markets that we’re going to be in for a crash,” Chambers told Kitco News. “Normally before a crash, I experience what I call a market malfunction where my portfolio just doesn’t behave as it should.” (show less)

Markets will see a major correction soon, most likely before presidential election, said Clem Chambers of InvestorsHub, who has allocated all his holdings into cash.

Under such a “flash crash” scenario, most assets have a positive cross-correlation and tend to fall together.

“I got a warning from the market about ten days ago…so I cleared the decks because I think it’s highly likely, not absolutely certain, but too likely to be in the markets that we’re ... (read more)