- Hedge-fund veteran Mark Yusko expects a “hope rally” in January.
- From there, it is downhill into a “dreadful bear market,” he says.
- He expects a lot of “spiky” rallies.
There may be a break in the selling as the year winds down but a “dreadful bear market” is in the cards for 2019, according to hedge-fund veteran Mark Yusko.
He told CNBC on Friday he expects the markets to end the year down, in the single digits, and in January there will be a “hope rally.”
“Then I think we start down,” he said on “Fast Money.” “Next year is going to be a dreadful bear market, and a bear market is a market that goes down most days but goes up a lot on good news or perceived good news.”