Others in the hedge fund industry were also convinced oil markets could be in for a turbulent time, too but several thought prices would recover in the longer-term.
Mark Swain, a partner at Smith & Williamson, told CNBC Thursday that the "biggest risk is probably the oil price" and that he was concerned about it.
"It's taken a huge fall. It's very volatile…Is it going back to 80 dollars or 90 dollars? Not even the commodities expert can tell me that, so that's something I worry about because I can't predict it," he said, also speaking to CNBC at the Investors Choice Awards in London.
Not everyone was convinced that oil was heading only in one direction, however. Richard Haworth, co-founder, chief executive and chief information officer of volatility hedge fund 36 South Capital Advisors, said that although "in the short to medium-term it may go lower, I think in the longer term, we'll see higher commodity prices across the board."
Michael Yoshikami, founder and chief executive of Destination Wealth Management, was in agreement, telling CNBC that while oil prices were likely to fall in the short-term, they would recover.
"Oil prices in the long term are going to go up. Are they going to go down in the short-term? I believe they are, to be more specific I think they're going to go down because of storage issues. There's just not enough storage for the oil but then I think oil will rally and will perhaps rally back to the $50-$60 barrel range," he told CNBC Europe's "Squawk Box" Friday.