Veteran fund manager who correctly forecast S&P 500 crash updates outlook
The long-time hedge fund manager has reset his stock market outlook.
It hasn't been much fun to be an investor in 2025. So far, the S&P 500 has taken a roller-coaster ride this year lower, including a 6% tumble since its February highs.
As a result, the S&P 500, which gained an impressive 24% in 2024 (more than twice the average annual return since 1957), is down almost 2% year-to-date.
The sharp stock drop surprised many investors, but not everyone was caught flat-footed.
