Mark Spitznagel, a well-known investor, has said that yesterday’s stock market decline may be a precursor to a larger event in the future. Referring to the plunge as a “trap,” he said that he anticipates an “80% crash when this is over,” according to a MarketWatch report. “I just don’t think this is it,” he added. “This is another selloff to shake people out. This isn’t Armageddon,” Spitznagel said. “That time will come as the bubble bursts. This is a most contrarian view right now. Promise.” This comes after Spitznagel having been calling for a bigger crash, which he feels would be the worst since 1929. He had previously warned investors in 2024 to not get caught off guard when the stock market turns for the worse and end up being the “sucker” who sells when the market is down and buys when it’s up.
NN: tariffs are a consumption tax on foreign made goods
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