Markets Insider: Stocks Look 'Highly Vulnerable' and the Economy is Likely to Enter a Year-long Recession, a 30-year Market Veteran Says
Article by Phil Rosen in Markets Insider
Longtime market watcher and strategist Jon Wolfenbarger expects stocks to crater and the US economy to tip into a prolonged recession.
In a note published Monday, the 32-year investing veteran pointed to several economic indicators that are flashing warnings of a downturn, as well as a deterioration in earnings, overvalued stocks, and "irrational exuberance" similar to that of the early-2000s Tech Bubble.
The Conference Board's Leading Economic Index, for one, has continued to decline at an annualized pace only seen during recessions, he said.
On top of that, the .....