Robert Shiller sees bubbles in the stock market, bond market and the housing market. He expects just 4.4% average annual returns in U.S. stocks over the next 30 years.

Robert Shiller, who won the Nobel Prize in economics in 2013, told Investor’s
Business Daily he expects just 4.4% average annual returns in U.S. stocks
over the next 30 years. That’s a disappointing return expectation — less
than half the market’s long-term return and well short of what pensions
are calling for. The S&P 500’s long-term return is 9.84%, says Index
Fund Advisors.

https://www.investors.com/etfs-and-funds/sectors/stock-market-crash-robert-shiller-i-see-bubbles-everywhere/?src=A00220&yptr=yahoo#