Terrific interview from Kingworld with Felix Zulauf, member of Barron’s Roundtable for over 20 years, and founder of Zulauf Asset Management AG

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Synopsis:

• Bottom line be defensive. This is not a usual economic cycle.
• Need large cash position to buy projected turmoil next year. Says maybe we chop around first few months, but expects severe turmoil next year. Says we need stimulus and money printing, but the austerity campaign is preventing this.
• Expects 1-3 countries to exit Euro 2012
• If the crisis is mishandled, even 2013 may be at risk for turmoil and continued recession.
• Buy gold, maybe dip to 1500
• No equities and stressed this point of no equities.

Source: King World News ^[2]