A prominent fund manager is shifting his stance on the market, warning of a potential 20% selloff for stocks if inflation reignites. Dan Niles, founder of Niles Investment Management, has been forecasting a 20% gain for the S&P 500 last year but now advises caution and recommends investing in cash. The market’s recent uptrend, which saw the S&P 500 rise by more than 20% in two consecutive years, has raised concerns about a potential correction.
Source: https://www.marketwatch.com/story/this-fund-manager-forecast-a-20-s-p-500-gain-last-year-now-he-says-cash-is-king-185ed453