This legendary market forecaster likes taking contrarian views — but only if they meet 3 criteria

• A legendary market forecaster explained why he likes making contrarian calls.
• Taking a divergent view is more valuable and interesting — and pays better, Gary Shilling said.
• Shilling warned the S&P 500 could crash 30% and a recession is likely to strike this year.

From Michael Burry's "Big Short" against the housing market to Warren Buffett's warnings during the dot-com bubble, some of the biggest names in finance have taken contrarian stances that paid off.