Market experts foresee turbulent times ahead amid recession warnings
• Jeremy Grantham predicts "The stock market will have a tough year" with a "mild recession" and stocks dropping due to high valuations, shrinking corporate profits, and a "scary as hell" geopolitical backdrop.
• David Rosenberg sees the "bull market in complacency" unraveling as the recession "finally comes into view," predicting stocks will tumble once investors price in an economic downturn.
• Jeffrey Gundlach says stocks are "on fire" despite more Americans falling behind on debts, calling markets "lazy" and "complacent" like prior bubbles; he expects a recession by mid-2023.
• Gary Shilling forecasts a 30% stock market crash to below 3,500 on the S&P 500 due to "very expensive and very distorted" valuations and "classic" recessionary signals he sees unfolding.
• Shilling also points to drained pandemic savings, student debt resumption, rare soft landings, the Fed's inflation focus delaying rate cuts, and labor hoarding as recession accelerators.