MarketWatch has a story on the current thinking of 5 well-known doom-sayers. The common thread is that the Fed's easy money policies are making them long-term or short-term bearish. Eventually that easy money policy will change and the markets will drop.
Seers mentioned are: Schiff, Prechter, Biderman, Schilling, and Dent. Dent is the most specific on timing. He sees a crash soon, followed by a rally into the election as the Fed applies another dose of QE, followed by a major crash in 2013-4.
The article includes some interesting investment picks for those doomsayers still in the market for the short-term. Shiling likes utilities. Schiff has launched a fund for US businesses that benefit from a falling dollar and increased overseas sales.
Only one doom-sayer is long term and short term bearish, Robert Prechter. He thinks the markets performance since 2009 was a bear market rally. After reading Prechter, you might think the only safe place to put your money is your mattress. That was one of the other seers top picks (Biderman, Tempur-Pedic)
My spin: All true: the market will crash because of the Fed's EZ money policies. The question is timing. I follow a seer who correctly predicted the 2007 crash. I agreed with all his reasons. But I never got out. Lately, he advised selling everything a few months back. I didn't. His call just didn't make sense this time. He missed a nice rally.
Just my opinion.
Money moves 5 doomsayers are making now
Prophets of gloom look to profit from Fed, corporate actions