Veteran Investors Warn of Bubble-Like Conditions, Predict Severe Stock Market Decline
• Veteran investor warns today's market conditions resemble tech bubble of late 1990s, predicts 80% stock drop
• Valuations at historic highs, top 5 stocks more concentrated than dot-com bubble
• Half of fund managers say "Magnificent 7" tech stocks most crowded trade
• Downward employment revisions and indicators suggest recession ahead
• Other veterans like Grantham warn bubbles unfold slowly, see more room for stocks to fall