Harry Dent is not one to shy away from predictions. Just take a quick look at some of the man's bibliography: he wrote The Great Boom Ahead in 1993 and followed it up with The Great Jobs Ahead in 1995. In 2009, he authored The Great Depression Ahead, and in 2011, The Great Crash Ahead.
Now, Dent, the economic forecaster perhaps best known for the use of demographics in his analysis, is predicting a big market crash this summer.
Dent told CNBC this afternoon:
We think markets are going to go up for a while. I think Maria [Bartiromo] is right – the market wants to go up.
We'll see one more correction into this second fiscal cliff. I think we'll see another rally into March, April, May, or something. By the summer, we get another crash.
I think it's going to be a choppy rally – up, down, up, down, with an upward bias. It's the second half that we think a crash starts – that, just like the last crash, lasts about a year and a half or so, goes into late 2014, early 2015.
We get a slight new high in the Dow this year, and then we get a slight new low in the next crash. That's been the pattern. Higher highs in each bubble, slightly lower lows in each crash.
Again, this should not be something that people go, "Oh my gosh, how could this happen?" It's been happening since 1995. Bubble, crash, bubble, crash, bubble, crash.
Harry S Dent is a financial newsletter writer and author , who is also the founder of HS Dent Investment Management, an investment firm based in Tampa, Florida. Mr. Dent's latest book is The Great Crash Ahead. Other books include The Great Depression Ahead and The Next Great Bubble Boom.
