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Stock Market Crash Not Coming Now, Says Kevin O’Leary

Kitco News

(Kitco News) – Equities have another two years of good returns coming, said Kevin O’Leary, star of Shark Tank and chairman of O’Shares ETFs.

“Here’s the really interesting situation we’re in. You look at a lot of analysts now looking at S&P earnings saying ‘OK, they’re going to go flat, and they’re not grow them more than 2%,’ but the reason that’s not going to ultimately completely bring down the market is the S&P is now 46% in foreign revenue,” O’Leary told Kitco News.

Even though problems exist globally, domestically, the U.S. economy is “on fire,” O’Leary added, noting that regulatory, not tax reforms, will bring the next leg up in the domestic markets, particularly in small and mid-cap businesses.

On alternative assets, O’Leary likes certain altcoins, like Facebook’s Lira.

“I like the Libra idea that Facebook has brought forward because it’s a regulated crypto and it’s a payment system that I would use to move capital between markets,” he said. “Every time you want to move a million bucks out of the U.S. to Canada it’s a total nightmare and it’s going to cost you a whole lot of basis points in FX trading.”

O’Leary also likes the cannabis space, but said he is not able to invest in it until the government removes medicinal marijuana from the Schedule 1 narcotics list.

“I would invest a lot in [cannabis]. I have no interest in the recreational side…I’m not into taking drugs. I want to see the medicinal side. I want to invest in that,” he said.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.