A notorious market bear warns stocks are due to underperform Treasurys by 10% over the next 12 years

• John Hussman warns of poor S&P 500 returns over the next 12 years.
• High valuations suggest potential underperformance against Treasurys.
• Hussman’s past predictions include accurate forecasts of the 2000 and 2008 crashes.

Before investing in the stock market, John Hussman urges investors to keep in mind that return outcomes ultimately have different probabilities based on when you buy in.