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David Hunter: The Final Melt-Up of a 43-Year Bull Market Before The Global Bust

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Nov 12, 2025
David Hunter, Chief Macro Strategist at Contrarian Macro Advisors, shares his bold financial forecasts. He predicts a final euphoric melt-up in the markets, potentially pushing the S&P 500 to 9,500 before a severe global bust akin to the 2008 crisis. Hunter discusses how rising leverage, fragile banks, and political paralysis could worsen the downturn. He also highlights the risks of hidden leverage and envisions significant QE measures to stave off collapse. Gold and silver are recommended as key hedges in this turbulent financial landscape.
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INSIGHT

Parabolic Final Melt-Up Expected

  • David Hunter predicts a parabolic final leg of a 43-year secular bull market pushing stocks much higher in the near term.
  • He expects this melt-up to top within months before a severe downturn begins in 2026.
INSIGHT

Breadth Will Expand Into Cyclicals

  • Hunter expects the melt-up to broaden from tech into small caps, financials, industrials, and consumer discretionary.
  • He compares the setup to early-cycle rallies when Fed easing fuels cyclicals despite economic weakness.
INSIGHT

Fed Easing + FOMO Fuels Rally

  • Institutional caution and a Fed easing cycle will create FOMO that propels prices higher.
  • Falling bond yields and easing liquidity act as tailwinds even amid underlying economic stress.
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