'The worst bear market of our lifetime': A Wall Street investment chief who predicted the recession warns stocks may fall 64% before the dust settles — and lays out 3 trades set to profit from the coronavirus crash
] was a catalyst to unwind an extremely unstable paradigm," he said. "We've seen the fastest decline from the peak ever in the financial markets. That's not a good sign."From the S&P 500's February high, Madan's call implies about a 64% total drop.
Today, Madan is seeing glaring imbalances in the US economy — and he thinks the inevitable unwind has just begun.Business Insider Madan provided the charts below to illustrate his point. The first depicts the ratio of household wealth to disposable income since 1950. It's currently at a record high, indicating frothy appreciation in financial assets."It's mathematically impossible for household wealth to continuously outstrip disposable income," he said.
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