"Black Swan Fund" founder Mark Spitznagel predicts that global equities, gold, and cryptos will experience a decline and increased volatility by the end of the year.

On Thursday, September 26, Spitznagel stated in an interview with Bloomberg Television that as the US stock market reaches historic highs, traders are gaining confidence in an economic soft landing. The stock market appears to be in a "Goldilocks zone," but investors should remain vigilant of second-order effects, for example, despite the Fed cutting interest rates, an economic slowdown could potentially lead to a sudden market collapse.

Spitznagel projects that global markets may suffer an 'impact' due to economic slowdown by the end of this year. Spitznagel said:

"When the yield curve reverses and reverses again, the alarm bells start ringing, that's when we enter the realm of Black Swans. Black Swans are always lurking, but we are now in their domain."

In 2024, benefiting from corporate profit resilience, the Fed's rate cuts cycle, and the expectation that the US economy can avoid a recession, the S&P 500 index has hit a record high 42 times. However, Spitznagel believes that the Fed lowering borrowing costs should make investors worried and consider more the future trajectory of stock prices next year.

Gold will fall, cryptos will also fall with risk assets, bonds may be a safe haven, market volatility is expected to increase in the coming months.