Steen Jakobsen: Markets Could Easily Drop 30% (Or More) This Year

Adam Taggart | Thoughtful Money, Released on 2/8/24

Markets seem pretty convinced that 2024 is experiencing, in the words of US Treasury secretary Janet Yellen, a soft landing. But what if everyone is wrong? And if they are wrong, which assets are cheap right now and what will happen to the market? Steen Jacobsen, Chief Economist and Chief Investment Officer of Saxo Bank, has been pointedly asking these questions of late. And today, we’re going to hear what he thinks the answers are.

Steen Jakobsen serves as Chief Investment Officer of Saxo Bank. As CIO he focuses on delivering asset allocation strategies and analysis of the overall macroeconomic and political landscape. As head of the SaxoStrats team, Saxo Bank’s in-house team of experts, he is responsible for all research including Quarterly Outlooks and was the founder of Saxo Bank’s renowned Outrageous Predictions. Prior to joining Saxo Bank, he worked with Swiss Bank Corp, Citibank, Chase Manhattan, UBS and served as Global Head of Trading, FX and Options at Christiania (now Nordea). Jakobsen’s approach to trading and investing is thought-provoking and not afraid to counter consensus. This frequently sparks debate among the global market community. On a daily basis Jakobsen and his team conduct research across asset classes, covering major macroeconomic developments, market moves, political events and Central Bank policies. With more than 30 years of experience, Jakobsen regularly appears as a guest host on CNBC and Bloomberg News. Steen Jakobsen graduated University of Copenhagen in 1989 with a MSc in Economics.

Adam Taggart is the Founder of  Thoughtful Money. He is also Co-Founder and former President of Peak Prosperity. Adam is an experienced Silicon Valley internet executive and Stanford MBA. Prior to partnering with Chris Martenson (Adam was General Manager of our earlier site,, he was a Vice President at Yahoo!, a company he served for nine years. Before that, he did the ‘startup thing’ (, sold to CNET in 2001). As a fresh-faced graduate from Brown University in the early 1990s, Adam got a first-hand look at all that was broken with Wall Street as an investment banking analyst for Merrill Lynch. Most importantly, he’s a devoted husband and dad.

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