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- Michael Gayed, an investor who called the coronavirus sell-off and recent stock rally, warned of two market crashes this year in a MarketWatch interview.
- "It looks like bonds collapse first before stocks," he said, arguing that government stimulus efforts could drive up bond yields and shock shareholders.
- Gayed added that stocks rallying as unemployment soars and growth slumps was "the greatest disconnect in history."
- "This feels like a home construction project," Gayed said about the pandemic. "It's going to cost more money and take longer than any estimates."
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An investor who called the coronavirus sell-off and subsequent rally expects two market crashes this year, according to MarketWatch.
Michael Gayed, whose ATAC Rotation Fund gained 35% in the first four months of this year, predicted in a Seeking Alpha post on February 27 that the Dow Jones Industrial Average would slump another 2,000 points.
See the rest of the story at Business Insider
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See Also:
- A Wall Street expert lays out how the stock market's 'downright terrifying' surge within this crisis may be laying the groundwork for another 32% crash
- 'We'll see the true financial carnage come': A 47-year market veteran warns the fallout from the coronavirus is only halfway finished — and says it'll take decades for the market to carve out new highs
- An investor who oversees $300 billion at T. Rowe Price says stocks are in a 'pseudo-bullish rally' — and shares 4 tips for making money during the slow recovery ahead
from Business Insider https://ift.tt/2WLsBN3
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