“The great bubbles can go on a long time and inflict a lot of pain but at least I think we know now that we’re in one.”
He’s really putting himself out on the limb with that prediction. I’ll go farther: the market will go down after first going up, or the other way around. Eventually, and probably sooner than most people think, one of those downswings is going to be huge. Boom! Bursted bubble. My track record has been 100% in predictions like this.
I think one of three things will happen. It will go down or up, or stay the same -perhaps multiple times. I stand firmly behind my prediction.