If to be taken for face value, the rhetoric of the current administration would lead many (and has) to believe that the economy is in the best shape that it has been in an unprecedented amount of time. So much so in fact, that in 2019 the American stock market saw its best year since 1997. With this in mind, it would be safe to say that the “hangover” from the 2008/2009 crash has subsided and that we as a nation are doing quite well. The Dow Jones and S&P 500 have both been trading near their all-time highs, however, the raging bull market is starting to show its slower tendencies and the “all-time highs” are beaten only by marginal increments.
As with all good things, they do eventually come to an end, but this will not slip into the bear market lull that we have so often seen through the last decade; we are sitting on top of a bubble and that bubble has reached its limit. A recent UBS survey of high net individuals showed that more than half of those polled stated that a foreseeable market crash within the next year. Additionally, CFOs from varying industries have stated that they are taking active measures in preparedness for a “significant economic downturn by Q3 2021.” While this may seem a surprise to some because things are doing so well, today’s guest on The Malliard Report has seen this coming over the horizon for quite some time.
This week we welcome Harry Dent to the show. “Harry isn’t just the face of Dent Research; he is also a bestselling author and one of the most outspoken financial editors in America who has developed a unique method for studying the global economies and providing insights to what to expect in the future. After years of studying economics in college, Harry quickly became disillusioned and grew to find the profession itself vague and inconclusive. So, he shifted his focus to the burgeoning new science of finance, where he could identify and study demographic, technological, consumer and many other trends that empowered him to begin forecasting economic changes. Harry went on to receive his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. He then joined Bain & Company as a Fortune 100 business consultant and now heads the independent research firm Dent Research.
Since then, he’s spoken to executives, financial advisors and investors around the world about demographics and the power of identifying different trends. Harry has appeared on “Good Morning America,” PBS, CNBC and CNN, Fox News and is a regular guest on Fox Business. He has also been featured in Barron’s, Investor’s Business Daily, Fortune, U.S. News and World Report, Business Week, The Wall Street Journal, and many other publications. Today, Harry uses the same research he developed from years of hands-on business experience to offer Dent Research subscribers a positive, easy-to-understand view of the economic future in his flagship newsletter, Boom & Bust.
On this episode, Harry provides some incredible insight in addition to dropping useful tips on how to prepare for the upcoming market plunge in a manner that is easily obtainable and not doom and gloom prepper. You can Harry’s books though most online retailers as well as his website (harrydent.com) where you can also subscribe to his newsletter. For everything Malliard, head over to malliard.com where you sign up for The Malliard Report newsletter in addition to being able to catch up on past shows. Connect with Jim through any social media platform (@malliard) and don’t forget to subscribe and rate the show through your favorite podcasting app.