We’re heading to a bear market worse than dot-com and 2008 crashes, says 37-year-old trading veteran

  • Bitcoin is trading at $30,000 and other cryptos are bleeding, but according to one veteran expert trader, we’re just getting started with the bear market.
  • The trader, who beat both the dot-com and ’08 financial crashes, gave the signal to look out for to indicate that it’s about to implode as well as how to beat the market.

Does it feel like the market is in a wreck right now? Well, we’re just getting started and it will get worse, way worse according to one expert trader with close to four decades worth of experience in the stock market. David Wright, who has survived the dot-com and the 2008 housing crises unscathed, also gave some advice for any trader that wants to beat the market.

In an interview with Business Insider, Wright claimed:

We’re in the early stages of what has the potential to be the deepest bear market of my life. The market clearly continues to decline. This is just the second inning. A lot more to come.

Wright is the founder of Sierra Investment Management, a company that he established in 1987 and which is based in Santa Monica, California. Today, Wright manages $10 billion in assets for high-net-worth clients from all around the world.

As far as outsmarting a bear market is concerned, few can claim to be better than Wright. The 78-year-old veteran who has been in the stock market for close to four decades was around during some of the worst financial dips in recent history.

When the 2008 housing crisis imploded, which was described as the worst market panic since the Great Depression and hundreds of billions went up in smoke, he managed to come out unscathed. His Sierra Tactical All Asset Fund barely lost anything at a time when the average hedge fund shed 18 percent of its value, the worst performance for the industry in recorded history.

>> Buy Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<


Then came the 2020 COVID-19 shakeout, and once again, financial giants all over the world were bleeding. Wright once again came out almost unscathed, with Bloomberg saying his fund outperformed 91 percent of its peers. The veteran further says that none of his funds lost any money during the dot-com crash when tech behemoths like $1.2 billion Webvan and Pets.com crashed to the ground.

For novice crypto investors, Wright has some advice for them:

Look at your five biggest holdings and stop them. It’s important to be really disciplined and sell if a stock goes below a certain level to minimize losses.

And just like another top investor Paul Tudor Jones has previously stated, Wright insists that cash is king. Investors should never be afraid to cash out.

When in doubt about the [crypto], sell half of your [crypto]. If it falls further, you will feel like a genius, but if it rises, you will feel like a genius.


Best Crypto Exchange for Everyone

  • Invest in Bitcoin (BTC) and over 200+ cryptocurrencies on America’s most trusted crypto exchange.
  • Buy Bitcoin (BTC) easily and with low fees via PayPal and credit card.
  • Enjoy super-low trading fees and access to more than 400 trading pairs.
  • Coinbase is regulated by the SEC and FINRA in the USA, and by CySEC and FCA in Europe.

100,000,000 Users


Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

About Author

Steve has been a blockchain writer for 8 years, and a crypto enthusiast for even longer. He is most excited by the application of blockchain to solve the challenges facing developing nations.

Comments are closed.