- S&P 500 Hercules Investments CEO James McDonald (James McDonald) said on Wednesday that as investors now have no hope of containing the coronavirus, they will fall by a further 20% before the inauguration.
- McDonald’s said: “We think the inventory will drop another 10-20% from here.”If the Standard & Poor’s 500 Index falls below 3,200 points before the election, it may fall another 1
- The benchmark index closed at 3,271 on Wednesday, the lowest level since late September.
- McDonald’s told investors that volatility is currently the only asset class with significant upside potential.
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“The stock market tells us that COVID-19 will not disappear anytime soon.”
According to James McDonald, Chief Executive Officer and Investment President of Hercules, he said on Wednesday that the S&P 500 index may be inaugurated in January due to the surge in the US coronavirus and the lock-in in Europe. It fell another 20% before. Come down again.
The benchmark index fell as much as 3.6% in Wednesday’s trading to close at 3,271, the lowest level since late September. McDonald’s said that the market turmoil is not over yet.
MacDonald said: “Now people’s expectations that COVID-19 will be contained have disappeared, and we are seeing stocks drop another 10-20% from here.” “We believe that if the S&P 500 index falls below 3,200 before the election , Its next step may fall another 12% to 2,890 points.”
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The investment leader’s trading strategy allowed him to profit from market volatility at the peak of the crash in March. Since then, he has been in turmoil and told investors that this is currently the only asset class with significant upside potential.
McDonald’s said: “Even after today’s 20% surge, we still believe that there is still more room for volatility between now and the general election. We believe that volatility after the general election will even rise further and go longer. The time has no clear result.”
He added that “work-from-home” stocks such as Zoom and Docusign are reliable long-term investments, even though the market currently shows “extremely bearish signals” for stocks.
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