From Nasdaq, Inc.:

The U.S. equity markets had a positive finish in 2023, but a market specialist predicts a “reckoning” in 2024. Scott Shellady, also known as The Cow Guy, suggests that the economy is not as strong as it appears, with 38% of companies reporting plans for layoffs. Despite recent market highs, Shellady believes the lower 60% of the U.S. population is likely already in a recession.

Shellady also warns that a series of expected rate cuts from the Federal Reserve likely won’t have the intended impact. He cautions that there’s too much hope and reliance on these potential rate cuts, and that the economic conditions are not as healthy or stable as the markets appear. He recommends caution before celebrating these expected rate cuts.

The market’s infatuation with anticipated rate cuts has caused an unhealthy trading environment, according to Shellady. He anticipates a more cautious approach from the Federal Reserve, advising investors to be careful what they wish for in terms of rate cuts. He suggests that waiting for signs of economic weakness before cutting rates could be detrimental.



Read more: EXCLUSIVE: The Cow Guy Warns Of Market ‘Reckoning’ In 2024 — ‘We’re Getting Closer And Closer’