Respected investor Jim Mellon has made economic and market predictions for the year ahead and believes the Queen will abdicate.
The multi-millionaire Isle of Man resident also reckons German leader Angela Merkel will be ‘ousted’.
Mr Mellon has made no secret he is in favour of Britain leaving the European Union. [BREXIT]. And he is forthright when predicting the referendum will take place: ‘Brexit is close, but the muppets will vote to stay in (a very stupid move in my view)’.
Mr Mellon is said by the Sunday Times Rich List to be worth £850 million and likened in some quarters as Britain’s answer to the American tycoon Warren Buffett.
His views on markets and investments are eagerly sought after and he has more than 362,000 followers on Twitter.
The director of island company Burnbrae has written his predictions in the latest edition of free online investment publication Master Investor.
His predictions include:
l The US market falls further. Perhaps 5-10 percent.
l The UK does OK, as sterling falls somewhat against the dollar and further against the Euro.
l The Italian and French debt crises-in-the-making become apparent to a wider audience than me. And yields on all Euro bonds go up – i.e. prices go down.
l Japan continues to be the world’s best performing market.
l China produces a modest positive return.
l Africa stalls further and the idea of a growth miracle is debunked.
l The Swiss franc falls further.
l Hillary Clinton wins the US election.
l Brexit is close, but the muppets will vote to stay in (a very stupid move in my view!).
l Gold and silver will outperform.
l 12,000 people will register for the greatest investment show on earth, Master Investor on 23rd April 2016.
l There will be a move to bail-in failing banks in the Eurozone – Portugal first, then Italy. This will dent Europe’s economic recovery.
l The migrant crisis will result in an effective closing of borders (destruction of Schengen).
l Saudi Arabia will move closer to bankruptcy.
l Merkel will be ousted.
l The Queen will abdicate.
Mr Mellon tells readers: ‘So there you have it. And of course, I will be back with a lot of new forecasts/recommendations at the Master Investor show. I really hope you get your tickets early.’
http://masterinvestor.co.uk/economics/mellon-on-the-markets-8/
l Meanwhile Mr Mellon has earned an accolade by the Telegraph for providing one of the ‘most memorable money quotes of 2015’.
He said: ‘I read that 41,000 new [property] units are being built in London all priced for more than £1m. Last year, only 3,000 units sold for more than £1m. The market in London is way overbuilt, way over-leveraged and way overpriced. I have forecast that London will go down. If you own Foxtons shares, sell them straight away.’
The Telegraph says Mellon made this prediction in March. Since then, Foxtons shares have fallen 11 per cent - or 37 per cent from a peak in late May.