A notorious market bear who called the 2000 and 2008 crashes warns we're in the 'third great speculative bubble' in the last 100 years — setting up the market for a decade of negative returns

2008A trader watches screens as he works on the floor of the New York Stock Exchange, September 29, 2008.

REUTERS/Brendan McDermid

• John Hussman warns of negative S&P 500 returns over the next decade.
• Hussman's analysis shows the market capitalization of nonfinancial stocks at all-time highs.
• Hussman's called the 2000 and 2008 bubbles, but his fund's performance has been poor.

John Hussman probably isn't someone you want to take investment strategy advice from.