Raoul Pal, the former hedge fund manager who founded Real Vision, thinks the fallout from the coronavirus will have immense, far-reaching impacts on the global economy. The duration and severity of the pandemic is something that Pal thinks hasn't yet been accounted for properly. Pal thinks a further 20% decline in stocks is on the horizon. For context, in October, Pal called the Federal Reserve cutting rates to zero and the US having negative rates. In late February, Pal said to buy bonds and that the impacts from the coronavirus would be "meaningful and real."