Doug Ramsey picked the top for stocks in 2015 and now he says the Standard & Poor’s 500 Index has another 10 percent to drop before the selloff that has been rattling investors since New Year’s is over.
Pessimism is proving prescient for the chief investment officer at Leuthold Weeden Capital Management LLC, who stuck by bearish predictions in October even as U.S. equities had the steepest monthly gain since 2011. That’s a memory now. More than $2 trillion has been erased in the worst start to a year on record and Ramsey says it’s likely to get worse, if history is any guide.
