65% of Goldman Sachs professionals think the stock market is going to crash within the next 6-8 months
Will the stock market crash? More than 1/2 of professionals think so
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Q2 2020 hedge fund letters, conferences and more
Stocks rose today, with the S&P 500 and Nasdaq adding to last week’s record levels. However, on Blind, an anonymous professional network with 3.6M verified users, a Walmart Corporation professional ran a poll asking, “Do you think *the* stock market is going to crash badly within the next 6-8 months?”
Many of the best-known hedge fund managers in the U.S. also dabble in philanthropy through their own foundations. Bill Ackman is one of them through his Pershing Square Foundation, and we can get an idea for some of his hedge funds by looking at where his foundation invests its money. Funds owned by Pershing Square Read More
Is The Stock Market Going To Crash?
The poll had 8,002 responses and robust dialogue with 580 professionals commenting on their own predictions, here are some key learnings:
- 55% of professionals responded “yes”
- 65% of Goldman Sachs professionals think there is going to be a crash within the next 6-8 months
- 64% of JPMorgan Chase & Co. professionals think the stock market is going to crash within the next 6-8 months
- 69% of Airbnb professionals think the stock market is going to crash within the next 6-8 months
- 51% of Facebook professionals think there is going to be a crash within the next 6-8 months
- 48% of Facebook professionals think there is going to be a crash within the next 6-8 months
You can see the report highlighting the overall responses here.
A user at LinkedIn responded to the poll saying, “Some companies aren’t worth $2T or 10% of US GDP. But then the bubble could keep blowing so it’s hard to say when it’s going to pop.”
Another user at Microsoft responded to the poll saying, “If anyone tells you what’s going to happen in the stock market they are either stupid or in on it”
With Silicon Valley technology firms being known for giving stock to their professionals, their predictions for a stock market crash are particularly interesting.
What do you think? Tell us by sounding off in our comments section.