You probably don't need the reminder, but this has been an abysmal year for Wall Street professionals and everyday investors, alike. Since hitting their all-time highs between mid-November 2021 and the first couple of days of January, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and growth-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively plummeted by as much as 22%, 28%, and 38%. That put all three -- at least briefly in the case of the Dow Jones -- firmly in a bear market.

Over the past six weeks (or a bit longer for the Dow), all three indexes have given optimists a reprieve. In fact, the Dow Jones is now considerably closer to an all-time high than a fresh year-to-date low. But in spite of this bounce, one billionaire money manager is sounding the warning on Wall Street.

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Source Fool.com