The investor who predicts oil may plummet to $10 per barrel within a decade is now warning of a possible "sizable sell-off in markets" this summer.
Francesco Filia, CEO and CIO of investment firm Fasanara Capital, told CNBC equity markets looked expensive and many risks existed.
"We remain defensive and very wary of stock market(s). There will be better times to bite. June is going to be a very heavy month," he said on Tuesday.
Filia said in a note this month that the U.S. dollar was likely to continue to strengthen and that this might halt bullish sentiment on global assets including the S&P 500. A stronger dollar could potentially impact the oil market and emerging market assets, Filia said.