Spitznagel thinks they should focus instead on lagging drivers that could spur a sharp stock downturn.
Advertisement"Black Swan" investor Mark Spitznagel thinks that the stock market's streak of record highs is distracting from a more jarring reality that could come by year-end.
In a recent interview with Bloomberg TV, he said investors are currently enjoying a market that's in a "Goldilocks zone."
"When the yield curve disinverts and then unverts, the clock starts ticking and that's when you enter black swan territory," Spitznagel told Bloomberg.
He has warned of a stock market crash since January 2023, and back in July, he said the market's yearslong rally has become the "greatest bubble in human history," and its bursting would make for a recession.
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