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Investing as we know it could be changing for good. And we can’t think of anyone better than Steve Cortes of Veracruz to provide us with insights about the new normal.
According to Veracruz, the landscape is going to change dramatically. Don’t expect the go-go growth like we saw in the earlier part of the decade. He says it’s not in the cards. And forget about Treasuries as safe havens. That’s done, too.
But do expect more regulation. Now that they’ve had a taste, Cortes fully expects the Obama administration to keep a finger in the financial pie.
(If you watch Fast Money regularly you might remember last time Cortes was on the show he said, “The government won’t want to surrender their influence over the sector. After all you can’t get a little bit pregnant!”)
Following is what Cortes says the new normal will look like:
* Lower Growth
* Lower Employment
* More Savings
* More Govt. Regulation
Cortes also believes the vast amount of debt being issued to finance the stimulus is going to result is terrible inflation -- and as result dollars will be worth less, much less.
If in fact, Cortes is right – how should you be positioned?
Cortes counsels selling Treasuries and establishing a long position in TIPs [TIP
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]. (Remember, TIPs are a special type of Treasury note or bond that offer protection from inflation. Typically the coupon payments are automatically increased to compensate for inflation as measured by the consumer price index (CPI).
And for those of you who are a little more comfortable with more elaborate trades, Cortes also suggested putting money in non-indebted countries.
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Trader disclosure: On June 9th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Macke Owns (TGT), (AAPL), (AGU); Najarian Owns (BX) Call Spread; Najarian Owns (DELL) Call Spread; Najarian Owns (FCX) Calls & Put Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MCD) Call Spread; Najarian Owns (MOS) Put Spread; Najarian Owns (PALM) Call Spread; Najarian Owns (WNR); Najarian OWns (AMAT) Calls; Najarian Owns (FLR); Najarian Owns (JPM); Najarian Owns (NSM) Calls; Terranova Owns (TER), (XBI), (ABT), (RIMM), (BTU); Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns July Crude Oil Futures; Terranova Owns August Crude Oil Futues; Terranova Owns (MS) & (MS) Calls; Terranova Is Short (FCX) & (FCX) Puts; Terranova Owns (GENZ) & (GENZ) Calls; Terranova Owns (HES) & (HES) Calls; Terranova Owns (XOM) Call Spread; Terranova Owns (DIS) Call Spread; Terranova Owns (X) & (X) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (POT) & (POT) Calls; Terranova Owns (IBM) & (IBM) Calls
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