Cohen was speaking at the Robin Hood Investors Conference in New York on Monday, according to Bloomberg. He was joined by fellow hedge-fund billionaire Paul Tudor Jones, who agreed the market is careening toward a volatile future.
For his part, Jones said that if Elizabeth Warren were to win the election, the S&P 500 SPX, -0.08% would drop by about 25% and economic growth in the U.S. would slip to 1% from estimates of more than 2% this year.
Cohen predicted Warren only need win the Democratic nomination for a double-digit drop in the stock market to take place, according to Bloomberg's report.
The views of Cohen and Jones echo those of fellow Wall Street billionaires Rob Citrone and Leon Cooperman, in making bearish market forecasts should Warren's rise toward the White House continue.
Are you willing to take the risk, Warren-Era?