A renowned market bear says stocks are setting classic trap before another steep plunge — and says the market is at risk of a 57% drop from current levels

· John Hussman — the outspoken investor and former professor who's long predicted a stock collapse — thinks the market is in the midst of setting a classic trap that's mirrors speculative bubbles of the past.
· He notes the wide divergence between historical, run-of-the-mill stock valuations and where the S&P 500 currently...