The founder of research firm MacroMavens is down on U.S. stocks but bullish on China, gold miners, and oil.
Interview by Mina Kimes, writer
Pomboy correctly predicted that Treasuries would outperform this year.
FORTUNE -- It isn't always easy being a skeptic. Just ask Stephanie Pomboy, 43, a market strategist who jokes that she spent the first half of the year with "nary a cocktail party invitation" because of her bearish outlook. Pomboy, who founded her institutional research firm MacroMavens in 2002 and now advises top hedge funds like Passport Capital and giant money managers such as BlackRock and Fidelity, split off from the pack several months ago when she decried stocks and embraced gold and Treasuries. She has since been proved right on both counts. As growth in the U.S. grinds to a halt, Pomboy's prognosis for the economy remains dreary: She forecasts a prolonged economic downturn, dampened by a secular decline in consumer spending. But she also sees opportunities. Pomboy told Fortune how investors can prepare for hard times ahead.
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