Volatility has been virtually non-existent in 2015, excluding the market sell-off in August and September. But Nicholas Colas, chief market strategist at Convergex, tells CNBC's "Power Lunch" on Tuesday volatility will return in a big way in 2016.
"Equity market volatility will be higher, on average, than any of the last 3 years. We've enjoyed a lot of good returns without much churn, but that has ended," Colas said.
Colas cites dollar volatility, Fed policy, choppy GDP growth and the elections for the market swings next year.
David Spika, global investment strategist at GuideStone Capital Management, also expects volatility to continue in 2016.
"Volatility is not unexpected given that we are in the later stages of the economic cycle and the Fed has begun to normalize monetary policy," Spika said.
Both Spika and Colas believe you can still make money in this environment, but you have to be prudent investors.