There's little reason for optimism in today's market, Lance Roberts laments.
Just look at the barrage of headwinds facing stocks right now, the RIA Advisors CIO said in an October 10 commentary.
At the start of this year, investing legend and founder of GMO Jeremy Grantham, said stocks were in their fourth superbubble in the last century given that market valuations had veered from historical norms so drastically.
On Friday, Roberts told Insider that he agrees with Grantham's assessments, and that he sees the S&P 500 dropping to around 2,900.
One of Wall Street's most bullish strategists this year, BMO's Brian Belski, cut his 2022 price target on the S&P 500 again on Friday to 4,200.