Today the man who warned just weeks before the Dow peaked that investors needed to brace for turbulence in US markets has now warned that a bear market in US stocks could be brutal.
Legend Rob Arnott, whose firm oversees $170 billion globally, issued a major warning about the US stock market
March 22 (King World News) – Rob Arnott, Chairman of Research Affiliates: “We started the year with a Schiller P/E ratio of 37. That’s nosebleed levels. That’s in the top 5% of all valuations in history. The thing that’s interesting about it is that bear markets fall into two broad categories. They fall into categories of ones that take no prisoners — the Global Financial Crisis is a beautiful example of that — and ones that are selective. The bursting of the Dotcom bubble is a beautiful example of that. The Dotcom bubble is a particularly interesting case. The bubble burst in March of 2000. And if you roll the clock forward to March of 2002, the S&P was down 27% on its way to being down 46% at the end, NASDAQ was down 50% on its way to being down 80%…to continue listening to Rob Arnott discuss what could be a brutal bear market in the US stock market as well as what to expect from stock markets around the world, and much more CLICK HERE OR ON THE IMAGE BELOW.
JUST RELEASED! Gold Closes The Week Above $3,000
To listen to Alasdair Macleod discuss the gold and silver markets and more CLICK HERE OR ON THE IMAGE BELOW.
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