‘Isaacs said the 1929 Great Depression was the closest bear market comparison. After the stock market crash of Oct. 29, 1929, the S&P 500 fell 86% in less than three years and did not regain its previous peak until 1954.
“That might coincide in mid-to-late April with some abating of the extreme lockdown in Europe, and we should from there get something like a short-covering rally,” he said.
“This is an unprecedented situation, this is worse than 2008, this is worse than 1987, this is the worst crisis to hit financial markets since the Great Depression.”’