By Daily Crux Editor Justin Brill:

Market analyst Robert Prechter is known for making some headline-grabbing predictions, and his latest is no exception.

In a recent New York Times piece, Prechter says we're headed for an even bigger crash than that of 2008 and 2009. He says the Dow could fall as low as 1,000 in the biggest bear market in 300 years.

Prechter tempers his extraordinary outlook with some sound investment advice:

"I’m saying: ‘Winter is coming. Buy a coat.' Other people are advising people to stay naked. If I’m wrong, you’re not hurt. If they’re wrong, you’re dead. It’s pretty benign advice to opt for safety for a while.”

Read full article...

Crux Note: We recently sat down with Robert Prechter for an exclusive interview on the inflation vs. deflation debate. If you haven't read it yet, you can do so here.

More on stocks:

The bond market says stocks could fall another 25%

If you're one of the lunatics long BP, you need to read this

This chart shows the bear market is far worse than you realize