>> It's the stock market correction that went just as fast as it came. The benchmark S&P 500 index enjoying the biggest weekly rally in five years, cutting recent steep losses in half but some big name veteran investors say they aren't fooled by the rebound in the stock market.
These Wall Street veterans telling Reuters investments editor Jenna Blan the recent market turmoil will return for a repeat performance sometime this year.>> You have the biggest investors, the best investors, who foresaw this market saying that massive bond supply, inflationary pressures and also an unwind in the fed's balance sheet is a horrible cocktail for the markets this year.
>> Byron Ween of Blackstone thinks the stock market will fall again and go even further than the 10% correction last week. The so-called bond king, Jeff Gunlock of Double Line Capital also thinks stocks have more room to fall. Dan Fuss, the so-called Warren Buffet of bonds, has been in the game for 60 years and says he's sitting on a stockpile of cash waiting for the turmoil to renew.
And then there's hedge fund manager, Doug Kass, he's betting the market will go back down in a strategy known as shorting.>> Doug Kass is re-shorting this market because he believes the big one is still in the pipeline.>> These voices also unite on one common theme.>> A lot of the investors that we've been speaking with say that the federal reserve rate hikes have been underestimated.
The effects of federal reserve rate hikes have been underestimated and that the unwinding of its balance sheet will have a lot of selling pressure not just in the bond market, but also in the stock market.>> And they say once investors wake up to that reality, the market will once again go into a tailspin.