The prediction I made on Stephen Colbert’s show

Friends,

I’ve gotten a reputation as being a soothsayer. It started the first week of October, 1987 when I said that “in two seeks the stock market will lose 20 percent of its value.” Exactly two weeks after I uttered these words, the stock market lost 20 percent of its value.” (What I never admitted was I’d been making precisely the same prediction — that in two weeks the market would lose 20 percent of its value — for five years.

Nonetheless, I want to replay for you a discussion I had with Stephen Colbert on his show in August of 2025. My prediction has turned out to be exactly right.

(Of course, I’d been making that prediction since the start of the first Trump administration.)

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