The chief executive at London-based Fasanara Capital warned the frequency of major market corrections and the historically high debt-to-GDP levels encumbering some of the world’s 10 biggest economies were major danger signs. Mr Filia accurately predicted the sudden and dramatic market correction in February this year when trillions of pounds were wiped from the value of stocks across the globe.

The majority of analyst reports for global markets are far more positive, forecasting continued growth as investors continue to drive prices up in the current bull market. But Mr Filia’s Fasanara Capital was correct in predicting the dramatic market correction in early February when stocks tumbled. Speaking several weeks before the sudden drop, Mr Filia warned overheated markets were “on the edge of chaos”. He likened overvalued stocks to Bitcoin and said like the popular cryptocurrency, their value was not based in reality.