Another is that it's not even happening at all and this guy is just off his rocker, a possibility he himself acknowledged, saying the experience has made him "question my sanity" over the years. But ...
"In 1837, 1873, 1929, 1973, 1999, and again in 2024, U.S. stocks reached extremely high valuations relative to their profit growth. Each time this was followed by a loss of more than 80% on average ...