The growing risk of a 'major financial accident' later in the year could open up opportunities for investors, according to Beat Wittman of Porta Advisors.
The growing risk of a "major financial accident" that causes a market capitulation later in the year could open up opportunities for investors, according to Beat Wittman, chairman and partner at Zurich-based Porta Advisors.
He said there is a danger that a "weak link" in the financial system breaks and investors flee en masse, providing investable bottoms for shrewd investors. Wittman argued that up until central banks were forced to begin tightening this year, monetary policy and liquidity conditions had been "too loose for too long," and policymakers, led by the U.S. Federal Reserve, were now scrambling to restore lost credibility.
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