A 48-year market vet warns that investors should prepare for more wealth destruction ’than we’ve ever seen’ as the Fed gets set to tighten policy – and says stocks will crash 80%

• David Hunter reiterated his call for a steep decline in stocks ahead.
• He said he expects the S&P 500 to drop as much as 80% from its peak.
• Hunter said Fed tapering would trigger the crash.

Investors seem to be nervous. And perhaps rightfully so.

Stocks are up 90% from the lows in the last year-and-a-half, an extraordinary bull run. Many measures of valuation show historic over-extension. The Federal Reserve is getting set to taper asset purchases. Treasury bond yields are expected to rise. The pandemic isn’t quite under control yet. Chinese real-estate firm Evergrande’s near-collapse sent shock waves throughout the global financial system.

The list goes on.