The stock market could crash again like it did 30 years ago on Black Monday, Jim Paulsen, Leuthold Group chief investment strategist, told CNBC on Thursday.
On Oct. 19, 1987, the New York Stock Exchange had one of its most dramatic trading days in its 225-year history.
It suffered its largest single-day percentage loss (22 percent) and its largest one-day point loss up until that day (508 points).
Since then, the Dow industrials have gained 1,025 percent, and U.S. equities have been on an almost uninterrupted bull run for more than eight years. Just this year, the market has jumped more than 14 percent, and it's up more than 280 percent from its crisis lows in March 2009.
Still, that doesn't mean there can't be trouble ahead.
"I think it's possible," Paulsen said, referring to another stock market crash.
"I think we're going to slow it down because of the circuit breakers and things of that nature, but I certainly think we'll probably see some more eye-catching days. Maybe not quite the magnitude of what we had in 1987," he told CNBC's "Power Lunch."