For the next 10 years he sees a 7% return on equities which means that investors in stocks will double their money.
While bullish, Bogle is profoundly worried about how the U.S. deals with the deficits and more importantly the long-term issues of social security and medicare.
Interestingly, Bogle thinks investors need to prepare for two 50% declines over the next decade. Despite that he still thinks long-term buy-and-hold is the way to go.
According to Bogle, market turbulence is part of the game.