Financial analyst Gary Shilling says the stock market could see a 1930s-like decline

Some excerpts from the Gary Shilling guy that CNBC keeps shilling (heh).

“In June 2011, he predicted a 20% drop in housing in 2012 with a resulting global recession. In October 2012 he predicted a global recession in 2013. In August 2015, he predicted that the price of oil “is headed for $10 to $20 per barrel” (it was $43/barrel at the time) due to higher productivity through fracking and OPEC not limiting production. Although cited frequently by various outlets as an expert, his accuracy has been called into question. According to reporting by CBS News, Shilling’s predictions were found to have a 38% accuracy rating, much worse than random chance, by an analysis completed by CXO Advisory Group.”

www.cnbc.com/2020/07/06/gary-shilling-says-the-stock-market-could-see-a-1930s-like-decline.html