“Decade or More of Despair has BEGUN”
by
The “Decade or More of Despair has BEGUN” title evolved from my knowledge of secular markets and from analyses of interviews of two highly experienced professional investors:
- Jeffrey Gundlach:
CEO of Double Line Capital
Anointed as KING of Bonds by CNBC
“Gundlach on Treasuries, Gold, Fed, AI, Private Credit, Trump”, Bloomberg, 06/11/25
- Cem Karsan:
Founder of KAI Volatility Advisors
Trades have accounted for as much as 13% of S&P 500 options volume
“This Is A Bubble’. You’d Better Invest Accordingly”, Wealthion, 08/28/25
The table below depicts the secular markets for the Dow Jones Index from 1920 to 2024. The Dow has a track record for peaking after 9 to 18 year uptrends that are then followed by 9 to 20 years downtrends.
Please note. My knowledge of secular markets was primarily obtained from my father. He entered the financial markets with Merrill Lynch in 1977 and is media verified market crash predictor.
- Michael Markowski:
Founder of Dynasty Wealth & Director of Research for SaveChangeWorld.com
Named by Fortune Magazine as a 50 Great Investor, 2004
Predicted collapses for all five brokers including Lehman in Equities Magazine article, 2007
Table below depicts Michael Markowski’s track record.
Michael Markowski has predicted that secular bull market for the Dow Jones ended and secular bear market began in 2024. The bottom line is that the theses provided by Mr. Gundlach and Mr. Karsan during their interviews fully support that stock market will experience a real negative real return over next 10 to 20 years.
Most significantly, the rationale by all three of the experts for why the US stock market will experience a real negative return in to the next decade and possibly beyond is completely and totally unrelated. Given that three highly experienced thought leaders came up with the same forecast from different angles increases the probability that stock market will experience no real returns for a decade or more.
The video below contains clips from the interviews of Mr. Jeffrey Gundlach and Mr. Cem Karsan. It also contains an explanation for why Dynasty Wealth LLC, co-founded by Michael Markowski, has the solutions to enable a defense oriented portfolio to grow substantially during the forecasted lost decade(s). Links to the entire interviews of Mr. Gundlach and Karsan are below and viewings of the full interviews of both which also contain Michael Markowski’s comments is highly recommeded.
Decade of Despair for S&P500 Underway
The interviews of the two gentlemen are highly recommended. Both included asset classes to invest in for the next 10 to 20 years.
Gundlach and Karsan interviews were included in 08/30/2025 “ Markowski on the Market” weekly ZOOM session. The session which was recorded also included information about the following:
- Michael Markowski’s “research the past to predict future” methodology
- Educational content explaining difference between Secular and Cyclical market
- Michael Markowski’s defensive growth strategy to be only utilized during secular bear
markets
Links below are to 08/30/25 Markowski on the Markets session:
The asset classes to be invested in recommendations by both Mr. Gundlach and Mr. Karsan are applicable to Michael Markowski’s defensive growth portfolio allocations which are explained in the video below.
