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Jim Bianco takes a closer look at the economic impact of COVID-19

WGNTV, Released on 10/28/20

Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary policy, the intersection of markets and politics, the role of government in the economy, fund flows and positioning in financial markets. Prior to joining Arbor and Bianco Research, Jim was a Market Strategist in equity and fixed income research at UBS Securities and Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He is a Chartered Market Technician (CMT) and a member of the Market Technicians Association (MTA). Jim has a Bachelor of Science degree in Finance from Marquette University (1984) and an MBA from Fordham University (1989).

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I realize that you are a highly respected financial analyst but I have to beg to differ with you. You don’t see a crash coming…I do see one coming and it’s already started. Recently, my investment portfolio (going back 5 years) was up 500%. I beat Buffet by a mile over the same period, I also beat alphabet and amazon share prices over the same stretch of time. I’m already down a lot from that day. I inject this personal investment history to let readers know that even though I’m just a dumb farmer, I’ve been beating the crap out of the pros for 5 years, hence you might want to listen to what i say here. The market will continue to fall into the election and will continue to fall until a president is chosen. If Biden wins, it will fall even steeper. This could take another ten days from now or more. I expect the market to drift much lower after the election no matter who wins. The worse dynamic for higher stock prices is uncertainty and we’ll have that in spades.
I’m holding onto a big chunk of cash to load up on miners when It looks like the knife has stopped falling and then buy mining shares at a steep discount.
I fear for America, food riots are coming so the poor masses will join BLM and Antifa in the streets..
I have a small farm in a tropical climate and I produce way more food year around than my small family can possibly consume. Smart investors should be seeking places like I have. Food is the ultimate wealth in hard times and i value my little farm more than anything I own right now … and I own a lot.