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IMF Cut in Global Growth Rate is Another Warning for Stock Market

The International Monetary Fund just cut its projection for 2019’s global growth to 3.3 percent from its January forecast of 3.5 percent. That would be the lowest growth rate since the financial crisis in 2009 when the global economy shrank (see chart below).  The cause? Worsening outlook for most major economies and higher tariffs decreasing trade. We believe the IMF’s projections are another warning sign for a stock market break this year. It is in line with the fact that stock market analysts have been steadily lowering forecasts for public company 2019 earnings.

IMF Cut in Global Growth Rate is Another Warning for Stock Market
IMF Cut in Global Growth Rate is Another Warning for Stock Market

Brad Lamensdorf

Brad Lamensdorf, the founder and portfolio manager of Active Alts, is a principal and co-manager of the AdvisorShares Ranger Equity Bear ETF. He previously managed a long-short investment partnership from 1998-2005 under the name Tarpon Capital Management. Earlier in his career Mr. Lamensdorf was an equity trader/market strategist for the Bass Brothers’ trading arm. He managed a short only portfolio in addition to co-managing a $1bil hedging program. He also served as in-house market strategist for the entire internal and external network of Bass Brothers money managers.

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