The Tell: As the stock market and economy are set to skid, Goldman says cash will be king

Cash is king. That is according to Goldman Sachs strategists who predict that 2019 will deliver lackluster, single-digit stock-market returns, making greenbacks the best game in town.

“We forecast S&P 500 will generate a modest single-digit absolute return in 2019. The risk-adjusted return will be less than half the long-term average. Cash will represent a competitive asset class to stocks for the first time in many years,” analysts at Goldman, led by David Kostin, wrote in a research reported dated Nov. 19.

Referencing a bull market approaching its 10th year that has delivered double-digit gains in 2017 and repeated records for the Dow Jones Industrial Average DJIA, +0.00% the S&P 500 index SPX, +0.30% and the Nasdaq Composite Index COMP, +0.92% Goldman said “all good things must eventually come to an end.

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