He used to place billion-dollar trades on Wall Street… And he says you’d be crazy to sell out of stocks now… Don’t miss his latest breakthrough, tonight at 8 p.m. ET…
Take a look for yourself…
The chart above tracks the performance of the S&P 500 – our regular stand-in for “the U.S. stock market” – and the tech-heavy Nasdaq over the past 12 months.
After a peak-to-trough fall – or “drawdown” – of nearly 20% last year, the S&P 500 is up 17% year to date. That’s its best start to a year since 1987.
And after last year’s drawdown of 23% for the Nasdaq, it’s up 22% so far in 2019. That’s its best start since 1991.
With the bull run on Wall Street celebrating its 10th anniversary, we believe now is a great time to prepare your portfolio for when the next bear market inevitably strikes.
As we wrote in the March 20 Daily Cut…
This doesn’t mean you should sell all your stocks and run for the hills. But as we’ve been showing you, now is a great time to make sure you have plenty of cash and gold in your overall portfolio mix.
It’s also a great time to clear some time in your schedule… refresh your memory on what you own in your stock market portfolio… and consider taking profits on stocks you’re not comfortable holding through a bear market.
That said, we don’t claim to have the last word on every issue.
Our mission here at Legacy Research is to explore ideas with our readers… so you can decide what works best for you.
And although I (Chris) am not alone in urging a cautious approach to the stock market right now… some of our analysts take a different view.
And one of the biggest stock market bulls at Legacy right now is Jason Bodner, who heads up our Palm Beach Trader advisory.
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He made partner at Wall Street firm Cantor Fitzgerald at the age of 28.
Cantor helps other financial institutions, and deep-pocketed investors, execute large trades. And when I say “large,” I mean it.
For example, one time, a client of Jason’s asked him to buy 1 million shares in a company that were selling for $20 apiece. That meant he had to buy about $20 million worth of stock in one day. And he had the same order every day for 20 straight trading days.
All told the trade was worth $680 million. By the time Jason was done, he’d bought about 7% of the company’s share float.
And that wasn’t even a particularly big trade by Jason’s standards. He was one of the few people on Wall Street with the authority to make trades worth $1 billion.
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I had the opportunity to spend time with him at our first Legacy Investment Summit in Bermuda.
I was surprised to discover that he’s a soft-spoken, modest guy. And I found it hard to imagine him slinging around billions of dollars around Wall Street.
So I was blown away when I later heard the stories from his time on Wall Street. Some of the stuff he got up to sounds straight out of a James Bond movie. Here’s Jason…
These days, I have a laid-back lifestyle near the ocean in Florida. I like nothing better than to hang out with my wife and kids at home… and to run my dog on the beach.
But back in my Wall Street days my life was very different. I would be in Switzerland one weekend, skiing the Alps with my well-to-do clients… then in Morocco the next, quad-biking the deserts outside Marrakech. Then I’d be back at Madison Square Garden with front-row seats to see Jay-Z.
He also rubbed shoulders with some of the world’s biggest celebrities. Jason again…
I lived on the Upper East Side – coincidentally, on the same floor as Michael Gambon, who played Albus Dumbledore in the later Harry Potter movies.
And celebrities, dignitaries, and even royalty visited Cantor’s trading floors – Prince Charles, Bill Clinton, Bill Cowher. I even got to hang out with supermodels like Kate Upton and Petra Nemcova.
But Jason was also regularly working 11-hour days during his time on Wall Street.
And after 12 years in the trenches at Cantor, he decided to go it alone. And he began to build a proprietary trading system that he now shares with our Palm Beach Trader subscribers.
It’s able to spot the multibillion-dollar trades he used to execute for his clients… and the price spikes they cause in stocks… before the rest of Wall Street finds out about them.
And that allows his readers to ride these stocks higher as billions of dollars flow into them over time.
Remember, last year, the S&P 500 fell just shy of the 20% drawdown that qualifies as a bear market. Meanwhile, the Nasdaq fell 23% from its 2018 peak… putting it well into bear market territory.
That made 2018 the worst year for stocks since the 2008 meltdown.
But Jason wasn’t worried. Here’s what he told colleague Nick Rokke at Palm Beach Daily on December 17 – just five days before last year’s plunge ended on Christmas Eve…
We’re just experiencing a little pause in a bull market right now. It feels like a huge drawdown, but if you were to look at a chart of the S&P 500 from the bottom of the bear market in 2009 to now, this pullback would barely register as a blip in that chart.
It’s very minor in the grand scheme of the market. And my data says we’re going higher.
Jason’s call was spot on. On December 24, we saw the low for the year. And as you saw up top, today, we’re back at record highs.
I got on the phone with him earlier today at his home in Boca Raton. Here’s how he explained it…
On the fundamental side, U.S. corporate sales and earnings were seeing double-digit percentage growth quarter over quarter… and year over year. And that was in contrast to what the news headlines were saying.
“Global growth is over”… “Get ready, a recession is coming”… That’s the newspapers getting ahead of themselves and, frankly, trying to sell advertising.
But the data said that 70% of S&P 500 companies were beating revenue expectations. And many of them were guiding higher. So to me, that was not an environment to be bearish.
And his proprietary trading system – which scans 5,500 U.S. stocks on a daily basis – confirmed that the bears had it wrong. Jason again…
Counterintuitively, at the time, my system was flagging a lot of sell signals. I’ve looked at 30 years of data on this. And what the data shows is that whenever everyone’s rushing to the exits at the same time, usually we head higher from there.
And Jason’s trading system has given his readers the jump on big moves in individual stocks, too.
Since we launched Palm Beach Trader last June, the stocks he’s recommended have shot up as much as 54%… 82%… and even 135%.
By contrast, over that same period, the S&P 500 is up just 8%.
To get a better picture of how Jason’s system works, Bonner-Denning Letter coauthor Dan Denning recently sat down with him for a short on-camera interview.
Now, Dan is one of the biggest bears at Legacy. So he didn’t give Jason any softball questions. But I think you’ll agree Jason held his own in the interview.
He also showed why it’s extremely hard to beat the kind of trading system he put together after his time on Wall Street.
To check it out, head over to our Diary e-letter right here.
In a free webinar for Legacy readers, he’ll be revealing how his breakthrough trading system can spot the biggest (and most lucrative) trades on Wall Street… up to a month in advance.
As an attendee, you’ll also have the chance to claim Jason’s No. 1 pick – which he says could have the potential to return as much as $9,385… in just one trading day.
I will be tuning in… and I hope you’ll join me. Learn more right here.
Turning back to the rise of socialism in America… and what it means for so-called capitalism… a reader points out the grey areas in the debate…
In the real world, very little is all white or all black. The concepts of pure capitalism and the concept of pure socialism do not exist in the real world. What does exist is that those in power want to stay in power. The group in power, as Mr. Bonner calls it, “the Deep State,” is very practicable. The media and the Deep State have a symbiotic relationship. Each one needs the other to thrive.
Ideology is not a driving force, but a window dressing used to sell the new set of clothes to the masses. To stay in power, the Deep State, with the help of the media, sells whatever the masses are currently buying.
– Frank B.
Meanwhile, a fellow reader has “given up” on the socialism vs. capitalism debate altogether…
I’ve pretty much given up reading the drivel presented as “reasoned arguments” for or against different positions such as socialism vs. capitalism. Everything these days is presented in binary terms, black or white, and we live in a grey world. Nothing is pure, except the corruption that permeates our governing class. Bill is right about win-win or win-lose, except I seriously doubt most people can truly understand what that really means.
Socialism? Slackers will always be slackers, and producers will always need some incentive to produce. It’s human nature.
Capitalism? Where do we have pure capitalism without government intervention? Of course our media will present the worst of crony capitalism as “pure capitalism,” because it fits their narrative, and no one bothers to think for themselves to question whether they may just be stretching the truth a wee bit.
You like the idea of socialism? Do you like bureaucrats? Because that’s who would control your lives, and I’ve never met anyone who reacts favorably to the mention of a “bureaucrat.”
But who actually thinks these things through anymore? Hey, Bernie likes it, and he’s cool, so it must be good, right? No need to actually think for yourself. You might hurt your brain.
– Byron S.
Finally, turning back to the End of the EU – a looming collapse we put on your radar last Monday – a reader gives her “boots on the ground” take on the issue…
My husband and I spent five months in Italy two years ago. In several conversations – with diverse people in different parts of the country – the rationale given for the existence of the EU was “to keep them from fighting each other.”
Amongst everyone we spoke to there was an intrinsic distrust of Germany. Some were bitter about the amount of money Italy had to send to the EU and claimed their country would be in a much better state outside the union.
– Martha L.
Is Frank B. right that the media and the Deep State feed off each other? Do you plan to heed Jason Bodner’s bullish case for stocks above, or do you have a different take? Write us at [email protected].
Regards,
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Chris Lowe
April 24, 2019
Dublin, Ireland
P.S. Last year at our first annual Legacy Investment Summit, Jason revealed the names of five stocks he called “outliers”…
In the six months since the conference, they’ve shot up an average of 48.5%. And this week only, we’re unlocking Jason’s presentation. Watch it right here.
IN CASE YOU MISSED IT…
There’s still time to claim a free masterclass on how to spot America’s fastest-growing stocks… up to 30 days in advance.
And you have free admission to the big event, tonight at 8 p.m. ET… hosted by former Wall Street insider and Cantor Fitzgerald partner, Jason Bodner.
For a chance to see the power of his methods at work in your own accounts, reserve your spot right here.
