This year is shaping up exactly like the 2000 dot-com bubble crash and stocks will drop a further 40%, a former Goldman Sachs manager has warned.
Former Goldman Sachs analyst Will Meade said the rest of the year looked even worse for stocks, predicting a 40% drop over the rest of 2020.“The Nasdaq in 2000 did a similar bear market bounce as stocks this year — dropped 40%, then bounced 42% off the bottom retracing 61.8% of its drop. It stalled then fell 43%, making a new low four months later,” Meade said.
Beyond his reasoning for the call, Meade offered some drastic advice to Americans, who he said should be building up as big a savings buffer as possible to weather a job loss or reduced income.
WTF?
Change your household into a firm.baseism
Same guy who told everyone to sell SPY on October 1st, almost 5 months and 25% early.
Same guy who told everyone to sell AAPL...in 2013...smh