RBS Urge Investors “Sell Everything” Before “Cataclysmic” Crash
The Royal Bank of Scotland (RBS) are advising investors to brace themselves for a “cataclysmic year”, warning that stock markets are likely to crash and oil prices will dip to $16 USD per barrel. The banks credit team have warned clients that the markets appear to be flashing similar “stress alerts” that preceded the Lehman crisis in 2008, advising clients to “sell everything”. “Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small,” the bank told clients.