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  • Jon Wolfenbarger says the stock market sell-off will likely last into mid-2023.
  • Wolfenbarger has company in his bearish views with names like Ray Dalio and Jeremy Grantham.
  • Wolfenbarger has been warning of a significant drop since last year.

Jon Wolfenbarger thinks stock-market investors are still too optimistic that a bear market bottom is coming sometime in the immediate-to-near future.

A simple look at history would tell them otherwise, says Wolfenbarger, the founder of Bull And Bear Profits who’s been working in financial markets for three decades and who has been warning of a significant drop in stocks since last year.

In a recent commentary to clients, Wolfenbarger looked at the track record of the length of bear markets over the last century when heading into a recession. With the current bear market just over nine months in — the S&P 500 peaked on January 3 this year — the poor outlook for stocks will likely drag on for months, he said. 

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