Wall Street: 98% Risk of Crash This Year
Earlier this year, a select group of Wall Street Insiders were surveyed, and the results were ominous. These financial experts and fund managers predicted a 98% chance a stock market crash will happen in the next six months.
Gary Shilling, one of Wall Street’s top economists, says the S&P Index could drop as low as 800, a 42% decline.
Jeffrey Gundlach, one of the world’s biggest bond fund managers and CEO of DoubleLine Capital, says the real damage is yet to come and an “ominous third phase” will “far exceed the damage of 2008.”
And Euro Pacific Capital CEO Peter Schiff, author of “The Real Crash: American’s Coming Bankruptcy,” warns, “I am 100% confident the crisis that we’re going to have will be much worse than the one we had in 2008.”
Even billion-dollar investor Warren Buffett is rumored to be preparing for a crash as well. The “Warren Buffett Indicator,” also known as the “Total Market Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment.
So with an inevitable crash looming, what are Main Street investors to do?