Scaramucci: Shares will lose another 10-15% of their value

Scaramucci: Shares will lose another 10-15% of their value

Why Anthony Scaramucci says not to sell stocks during a pandemic

Description video:
CNBC’s \”Halftime Report\” is joined by Anthony Scaramucci of SkyBridge Capital to discuss his outlook for markets amid the coronavirus pandemic.\n\nThe adage “keep calm and carry on” might, in the end, be the best advice for investors to follow during times of extreme market volatility such as the present.\n\nWhile it might seem counterintuitive to sit back and relax while stocks post swift and steep losses, for investors with longer-term time frames it typically pays to wait it out. \n\nLooking at data going back to 1930, Bank of America found that if an investor missed the S\u0026P 500′s 10 best days in each decade, total returns would be just 91%, strikingly below the 14,962% return for investors who held steady throughout the ups and downs.\n\nThe firm noted this eye-popping statistic while urging investors to “avoid panic selling,” pointing out that “the best days generally follow the worst days for stocks.”\n\nIt’s nearly impossible to time your investing so that you get out at the right time and then get back in at the exact right time to profit from big comeback rallies.\n\nFor more coronavirus live updates:\nhttps://www.cnbc.com/2020/04/16/coronavirus-live-updates.html \n\nFor access to live and exclusive video from CNBC subscribe to CNBC PRO: \nhttps://cnb.cx/2JdMwO7 \n \n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n \nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n \n#CNBC\n#CNBC TV
Scaramucci: Shares will lose another 10-15% of their value

Scaramucci: Shares will lose another 10-15% of their value

According to Anthony Scaramucci, investor and former director of communications for the White House, US stocks are in a “prolonged bear market,” prices could fall further.

«I actually think that we are now in a bear market, – said the expert. – As soon as economic data comes out, we will find ourselves in a pretty steep recession».

His comments came as America and the world are grappling with the fallout from the ongoing coronavirus pandemic. Global markets are volatile and under pressure as infections continue to rise. The World Health Organization also reported nearly 13,000 deaths. The Dow Jones Industrial Average is down 32.81% YTD, while the S&P 500 fell 28.66% over the same period.

«We’re in a long bear market, ”said Scaramucci, founder and managing partner of investment firm SkyBridge. – I think that the shares will fall by at least another 10-15%».

However, in the short term, the expert is optimistic about expectations that the US Congress will approve economic incentives for the American economy..