Stocks could tumble 15% by early next year, investor Jack Ablin warns

Cresset Capital's Jack Ablin believes investors with an appetite for big risks could get burned.

Ablin, who has $5.4 billion in assets under management, warns the market is vulnerable to a significant correction by early next year." on Thursday. "The market could respond downward 10 to 15%."battled back from negative territory on Thursday. After dropping as much as 335 points, the index closed up 122 points and reversed a two-day losing streak. However, just three days into the fourth quarter, the index is still down more than 700 points and is 4.4% off its record high.

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