Yieldstreet founder and President Michael Weisz appearing on Yahoo Finance said, “We will continue to see a lot of volatility in the market. Investor sentiment is poor” referring to recent swings in public market indexes like the Dow Joines Industrial Average (^DJI), the S&P 500 (^GSPC) and the NASDAQ Composite (^IXIC).
Weisz went on to point out that he believes up days on public markets do not indicate the toughest days for investors are necessarily in the past. Weisz said the American consumer is healthier than at times before the great financial crisis and other issues like strong bank capitalization are shielding the economy from more severe downturns.
“I think that we’re going to see worse inflation before it gets better. That’s number one,” Weisz said. “I am of the opinion that the 2024 elections are going to play a significant role in how this administration chooses to influence the impact of inflation and certain key economic issues we have going on here and I’m not sure we’re talking about that enough. I think that if the Democrats want a chance to win, they’re not going to be able to do that with this kind of sentiment. They’re going to have to do whatever it to takes to bring the U.S. consumer to feel healthier about their current state of financing, their jobs, their inflation, the cost of goods, and we’re not seeing that discussion happen yet,” he added.
Weisz said that he believes markets will be stronger in the next 12 to 18 months. It is his opinion that investors should consider ways to diversify their portfolios. “I think right now the investor should really be thinking about moving outside of public equities and trying to find better investment solutions and not have to deal with the volatility,” he said.
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