He starts his session by stating that during the past 100 years, there have been 5 great bottoms, and that 2009 was not one of these bottoms. He expects the 6th bottom to be sometime in 2013.
Bank of England’s governor Mervyn King told us last week that “England will avoid a double dip recession”. This reassuring statement is not of the opinion of Russell Napier. A pioneer of bear markets analysis, Napier recently demonstrated that the future of the world global economy looks pretty gloomy, defying any affirmations that growth resume in 2011 and beyond…Watch Russell Napier explain the history of stock market crashes for free.