Guru Who Predicted Past Crashes Sees S&P 500 Plunging 63% Soon Due to Bubble Warning Signs

John Hussman warns the S&P 500 could plunge 63% due to high valuations and weak market breadth, a combination associated with past crashes.

Hussman called the 2000 dot-com crash and 2008 financial crisis. His specialty is identifying bubbles.

By some measures like the Shiller PE ratio, equity risk premium, and Buffett indicator, stocks look overvalued.

Market breadth metrics show deteriorating internals, with few stocks making new highs.

Hussman's past bearish calls have been early but accurate. His fund's recent returns have lagged the S&P 500's gains.