Last year Mark Yusko, founder and CEO of Morgan Creek Capital Management, said we’d get $30 oil prices. He was right. Can he make it two-for-two? While some may be predicting a rebound in oil prices going forward, Yusko is maintaining his dour outlook. As part of his “Bold Predictions” talk at the Inside ETFs conference in Hollywood, Florida, Yusko said: “There’s no chance we’re going to get any spike, upward movement in oil. It’s not going to happen.”
Adding insult to injury, he predicts a “messy bankruptcy” for at least one major commodity company, specifically calling out mining and commodities trading firm Glencore as a possibility.
Lastly, Yusko has predicted that a recession in developed markets is coming, “as sure as the sun rises,” but that of all the emerging markets, India will likely perform the best and end 2016 with positive returns.