'The most extreme valuations in history': A notorious market bear says investors should brace for record-low negative returns over the next 12 years — and warns that today's exuberance implies a 66% plunge

· John Hussman — the outspoken investor and former professor who's long been predicting a stock collapse — is currently forecasting "zero or negative returns for more than a decade."
· In order to bolster his thesis, Hussman leans on valuations, sentiment, and market internals which all point to a dire outlook moving...