If This Sign Happens, 'Move Into Cash'

In the meantime, Hefty said if the second quarter GDP reading is below 1 or 1.5 percent, then investors should move into cash and sit on the sidelines. (Correction: An earlier version of this story misidentified the quarter to which Hefty was referring).

“If they disappoint, it’s going to be a clear indication that the economy is not going to be able to bail out these banks and the banks will have to write down trillions of dollars of losses. And that will set us back into another major downward spiral and set us into a new cyclical bear market,” David Hefty, chief executive of Cornerstone Wealth Management said.

CNBC