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Rob Arnott started Research Affiliates, a quantitative investment firm in 2002 and they manage over $36 billion. I have met Rob and found him to be a market expert.

In his comments on the stock market which came in a recent interview with Business Insider he states:

The current stock market environment is reminiscent of the dot-com bubble peak, according to Rob Arnott, the founder and chairman of Research Affiliates. Arnott predicts a significant pullback in the near future.

What Happened: Arnott, who is known for his early predictions of bull market tops, sees parallels between the current market and the dot-com bubble peak, reported Business Insider. He does not anticipate an immediate significant pullback but foresees a substantial decline in the near future.

Arnott’s observations come as the S&P 500, a large-cap index dominated by mega-cap growth firms, surged 5% within a week following the election of Donald Trump, closing above 6,000 for the first time. This rapid increase is the latest development in a 66% rally that has lasted over two years.

“This looks and feels like the year 2000 to me,” Arnott told the publication.

“Are we likely to see a bear market in the next two years for large-cap growth? Yeah.”

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