This is a partial transcript from "Your World with Neil Cavuto," March 21, 2006, that was edited for clarity.
NEIL CAVUTO, HOST: You want to know when the market will crash? How about when the next recession will hit?
My next guest says the answers lie in the stars.
Henry Weingarten is his name. Henry is the managing director of The Astrologers Fund. And he's armed today with a series of new predictions.
I want to warn you, some are a little unsettling, including a big correction, right?
HENRY WEINGARTEN, MANAGING DIRECTOR, THE ASTROLOGERS FUND: Yes. Well, the market is ready for correction. It has been a long time since we have had a...
CAVUTO: But not a crash?
WEINGARTEN: Well, it could be, but it's at least a correction. We are going to see at least a 10 percent over the next 90 days, timed by the March 29 eclipse.
CAVUTO: All right, so 10 percent, next 90 days. That's kind of a wimpy prediction.
CAVUTO: I mean, 10 percent, 90 days? Whoop-dee-do. I mean, what's so...
WEINGARTEN: It's on the downside, not the upside. That's going to hurt your portfolio.
At the same time, we are going into a real estate recession next year. And we called the '89 real estate recession.
CAVUTO: All right.
Now, on the real estate thing...
WEINGARTEN: That bothers you?
CAVUTO: Well, no, but your track record is kind of iffy on that.
CAVUTO: You saw one coming in 2004. Didn't happen. You said we were going to drop up to 35 percent at that time, going into 2004, 2005. It didn't have. So, who is to say you're right this time?
WEINGARTEN: Well, you have to look at percentages.
We only have a 93 percent chance of being right this time. We were talking on Saturn and Cancer before. This is based on a Saturn-Neptune cycle, which repeats '89.
No, we are not always right on everything we have done. But you have seen a lot of our stuff, including the last three times. And all we are suggesting is, be prepared.
Normally, you do a portfolio review at the end of the year. We are recommending, do a portfolio review this next week.
CAVUTO: All right. People at home listening to this, they have index funds. What do they do?
WEINGARTEN: Index funds, I would raise some cash. You know, you can get 4.5, 5 percent-plus in the bank. And I think that will be better than what they're going to get in the next 90 days.
CAVUTO: All right. So, you're not bullish?
WEINGARTEN: Definitely not bullish.
CAVUTO: All right. So, this 10 percent is a minimum deal?
WEINGARTEN: It is a minimum deal.
CAVUTO: OWhat is going to cause it? What is going to bring it about?
WEINGARTEN: There are 37 things that can go wrong. It could be anything from what your guests said before on the flu. We tend to think it is a debt crisis, a dollar crisis.
CAVUTO: But it has nothing to do with Pluto and Saturn's rings, does it?
CAVUTO: Henry, I love you dearly. You are a great marketer. And I think, over the decades, you are one of the best stock pickers I know, stock trendsetters I know.
CAVUTO: I think this astrology is something you lopped on there.
WEINGARTEN: I have been doing it since 1967, as you well know.
But, in any case, astrology tends to time things. It doesn't cause them. There are lots of things wrong in the economy. There's a dollar crisis...
CAVUTO: But you know, Pluto has no effect on Microsoft.
WEINGARTEN: Really? Then how can I tell you that, in June, the dollar will be down? How can I tell you gold will be up?
CAVUTO: Because you are a very good economic picker and trendsetter. It has nothing to do with Pluto and Saturn.
WEINGARTEN: Do you believe in cycles?
CAVUTO: Sure I do.
WEINGARTEN: OK. There are two types of cycles, regular cycles and irregular cycles. Irregular cycles are timed by the planets.
CAVUTO: But people are going to listen to you, Henry. Now, you have been right on some big ones.
WEINGARTEN: That's right.
CAVUTO: I mean, you got gold right, when nobody did, that it would soar and continue soaring.
WEINGARTEN: That's right.
CAVUTO: You got right on that.
You didn't get a couple of big things. Like, George Bush Sr., I think, you said would be reelected. That didn't happen.
WEINGARTEN: Right. We didn't...
CAVUTO: All right. So, in other words, you have made some doozies.
But, by and large, we would say, your batting percentage is much higher than most.
WEINGARTEN: Yes. It's in the 80 percent range...
CAVUTO: So when you talk about coming calamities, what's to stop me from saying maybe a 10 percent correction, that's not awful?
WEINGARTEN: Look, well, first of all, it can be a lot more. We may go into a recession. I'm just...
CAVUTO: Well, you say 2007, we go into a recession.
WEINGARTEN: That is a real estate recession.
WEINGARTEN: That might not be a market recession. But there's a dollar correction coming, you know, that you can't keep spending money and not taxing for it.
CAVUTO: But a lot of generalists say that.
WEINGARTEN: And they're right. So, the question is, when will it happen? And I'm telling you, it's going to...
CAVUTO: You are saying, by 2007 at the latest, we are in deep doo-doo?
WEINGARTEN: That's right.
CAVUTO: OK, Henry Weingarten, thank you very much.
He's a pretty smart guy. He has a great record.
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