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Affluent Investor | March 23, 2017

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AboutMichael Pento, Author at Affluent Investor - Page 2 of 7

Michael Pento

Michael Pento

Michael Pento is the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm that provides money management services and research for individual and institutional clients. Michael is a well-established specialist in markets and economics and a regular guest on CNBC, CNN, Bloomberg, FOX Business News and other international media outlets. His market analysis can also be read in most major financial publications, including the Wall Street Journal. He also acts as a Financial Columnist for Forbes, Contributor to thestreet.com and is a blogger at the Huffington Post. Prior to starting PPS, Michael served as a senior economist and vice president of the managed products division of Euro Pacific Capital. There, he also led an external sales division that marketed their managed products to outside broker-dealers and registered investment advisors. Additionally, Michael has worked at an investment advisory firm where he helped create ETFs and UITs that were sold throughout Wall Street. Earlier in his career he spent two years on the floor of the New York Stock Exchange. He has carried series 7, 63, 65, 55 and Life and Health Insurance Licenses. Michael Pento graduated from Rowan University in 1991.

Posts By Michael Pento

May 6, 2016 |

Save the Environment and Your Retirement: Sell Tesla

The stock price of Tesla Motors (TSLA) has soared along with the recent announcement that pre-orders (i.e. a fully-refundable $1k deposit) for its Model 3 are approaching 400,000 units. The Model 3 is purported to sell eventually for an estimated … Read More

May 2, 2016 |

Stocks or Dollar About to Enter a Bear Market

The first month and a half of 2016 were brutal for the U.S. equity market, as the major averages plunged over 10%. The culmination of the decline came on Feb 11th when the Dow Jones Industrial Average dropped 1.6%, … Read More

April 28, 2016 |

Time to Invest for Stagflation

Whether you call it a 1970’s style stagflation or, as we call it, a recessflation, investors need to prepare their portfolios to profit from a protracted period of rising prices in the context of zero growth. Here are some facts: … Read More

April 12, 2016 |

Goldman is Dead Wrong on Gold

Goldman Sachs has been predicting the demise of gold for the past few years. Back in July of 2015, Jeff Currie (Global Head of Commodities Research at the investment firm) went on record predicting the price of the yellow metal … Read More

April 5, 2016 |

May the Phillips Curve Rest in Peace

In 1958, economist William Phillips claimed there was a historical inverse relationship between the rate of unemployment and the corresponding rate of inflation. His conclusion was that full employment (whatever that means) was inflationary. He illustrated his claim through … Read More

March 15, 2016 |

President Obama is the One Peddling Fiction

In his final State of the Union Address, President Obama chided, “Anyone claiming that America’s economy is in decline is peddling fiction.” Following the recently released February Non-farm Payroll Report, which showed a net increase of 242 thousand jobs, he … Read More

March 8, 2016 |

The Rebound in Stocks Won’t Last

After taking a beating in January the S&P 500 has rebounded by about 5% in February, and this uptrend has continued into March. But before you think it’s safe to jump back into long positions, it’s important to realize … Read More

March 4, 2016 |

China’s Newest Export: Empty Buildings

A little over six months ago the owners of the Baha Mar, a $3.5 billion Bahamian resort, filed for bankruptcy. Shoddy construction from the China State Construction Company led to delays resulting from leaking plumbing, porous Chinese concrete and … Read More

February 17, 2016 |

Inflation Doesn’t Come From Seasonally Adjusted Employment

According to the Bureau of Labor Statistics (BLS), there were 151,000 net new jobs created in the month of January, and the unemployment rate fell to 4.9%. The continuing increase in new job creation and removal of slack in … Read More

February 10, 2016 |

Oil’s True Message

The pervasive narrative on Wall Street is that the collapse in oil prices will, any second now, restore consumers to their profligate spending ways. In fact, financial pundits have been calling for plunging energy prices to imminently rescue the economy … Read More

January 19, 2016 |

This Is Not 2008: It’s Actually Worse

The S&P 500 has begun 2016 with its worst performance ever. This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat … Read More

January 13, 2016 |

Junk Rhymes with Subprime

On December 16th 2008, in what Ben Bernanke averred took a tremendous amount of “moral courage,” the Federal Reserve officially arrived at its Zero Interest Rate Policy. ZIRP was a huge win for borrowers because it drove down the carrying … Read More

January 6, 2016 |

Pento’s Predictions for 2016

2015 was a year where nearly every asset class failed to provide any returns at all. If fact, the S&P 500 hasn’t gone anywhere in about the past 400 days. An analysis of that Index’s performance at the end of … Read More

December 23, 2015 |

Beware of Central Bank Success

The most important question investors will soon have to face is: “What’s going to happen once central banks finally meet their inflation targets?”

For example, let’s assume after years of monetizing government debt, bidding up equity prices, and forcing debt … Read More

December 15, 2015 |

Ten Investor Warning Signs for 2016

Wall Street’s proclivity to create serial equity bubbles off the back of cheap credit has once again set up the middle class for disaster. The warning signs of this next correction have now clearly manifested, but are being skillfully … Read More

December 9, 2015 |

Unwinding Carry Trades and Unintended Consequences

The European Central Bank under the auspices of Mario Draghi has created a market destabilizing condition known as the euro carry trade. Mr. Draghi recently telegraphed to the markets a more aggressive attack on the value of the currency … Read More

December 1, 2015 |

Don’t Sell Your Gold Because of Draghi

European Central Bank President, Mario Draghi, has been trying to lower the value of the euro by promising to pursue inflation with a vengeance. His inflation rhetoric was stepped up during a speech he gave to Germany on November … Read More

November 30, 2015 |

The Success of Irish Austerity: The Joke is on Krugman

During the late 1990s, Ireland’s economy was booming. This was mostly due to a low corporate tax rate of just 12.5% and an international real estate bubble that boosted global Gross Domestic Product (GDP). For a myriad of reasons Ireland … Read More

November 17, 2015 |

How the Great Depression 2.0 Will Soon Unfold

Those who place their faith in a sustainable economic recovery emanating through government fiat will soon be shocked. Colossal central bank counterfeiting and gargantuan government deficit spending has caused the major averages to climb back towards unchanged on the year. … Read More

November 11, 2015 |

U.S. Manufacturing Renaissance Turns Into the Dark Ages

The October ISM Manufacturing Index, which has been the official barometer of the U.S. manufacturing sector since 1915, came in with a reading of just 50.1. This was a level barely above contraction.

Of the 18 industries surveyed in the … Read More

November 3, 2015 |

Global Fiscal and Monetary Madness

Last week China’s central bank (the PBOC) cut borrowing costs for the sixth time in a year and eased the reserve requirement ratio (RRR) for the third time this year, in a desperate attempt to achieve the prescribed growth target … Read More

October 27, 2015 |

Fed Headed Into Inflation Overdrive

Seven years of extraordinary fiscal and monetary stimuli are proving ineffective towards achieving the growth and inflation targets laid out by the Federal Reserve. The Consumer Price Index (CPI), the Producer Price Index (PPI) and Gross Domestic Product (GDP) have … Read More

October 21, 2015 |

Tea Party is Drinking Too Much Decaf

On December 16th, 1773 the Sons of Liberty in Boston, in protest of the Tea Act, destroyed an entire shipment of tea sent by the East India Company, in a political protest referred to as the Boston Tea Party.

Following … Read More

October 13, 2015 |

One Step Back From the Ledge

I started Pento Portfolio Strategies three years ago with the knowledge that the unprecedented level of fiat credit creation had rendered the globe debt disabled and would result in mass global sovereign default. As a consequence, there would be wild … Read More

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