Expert Who Shorted 2008 Crash Warns of 25% Drop

  • Glen Goodman made £100,000 shorting markets in 2008.
  • On Tuesday, he told Insider he’d just bought put options on the S&P 500.
  • He said there is a “fair chance” the index drops 25% “at some point soon.”

In 2008, Glen Goodman traded stocks as a hobby, a way to earn extra money on the side of his full-time job.

Early that year he had a feeling stocks were going to drop in a big way as the financial crisis began to unfold and the housing market collapse in the US continued to hurt its economy.

So he put £3,000, then later another £2,000, into spread bets against the FTSE 100, the UK’s blue-chip stock index. With the economic outlook bleak, he also later bet against the price of oil, according to a contributed story he wrote for the London-based Times newspaper

When global markets finally crashed,…

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