CNBC and MSNBC contributor Ron Insana warns that 2016 will continue to be the “the year of living dangerously” for all investors.
Insana told the
Worcester, Massachusetts, Telegram that a variety of volatile factors will continue to haunt investors this year, such as the possibility of a Federal Reserve Bank rate hike, a weak global economy, a tumultuous political climate and various unpredictable global geopolitical risks.
“Insana said the best financial advice he could offer people would be to pay attention to their statements and not get complacent in order to avoid being blindsided by market changes,” the Telegram reported.
“He also urged people to set aside emergency money and know their industry trends to help plan, should layoffs occur. Developing a second career for the latter part of their lives would be wise as life spans increase and skills such as coding become invaluable across a multitude of fields,” the Telegram reported.
Insana isn't alone in his warning that investors are in for a rough ride the rest of this year, although the severity continues to remain a topic of debate.
Raoul Pal, a former hedge-fund manager and founder of the Global Macro Investor, a macroeconomic research service, warns that the United States is at risk of another recession.
The global macro analyst told
Yahoo Finance he is seeing many of the same signs he saw back in year 2000 just before the tech bubble burst.
“It just feels like everyone is willing the market to go up, but something is going wrong in the overall underlying dynamics of the market,” he said of the overall stock market volatility this year.
(Newsmax wire services contributed to this report).
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