Jim Paulsen of Leuthold Group, one of the stock market’s biggest bulls, is retiring. 

“After 40 years, I am stepping away from the business,” the chief investment strategist of the Minneapolis-based investment firm wrote in an email. “While I am a bit nervous about retirement, I can’t wait to see what trouble I get into—and maybe do some good—in the coming years.” 

Paulsen, who began his career in the investment industry in 1983, had previously worked at Wells Capital Management for 20 years. He joined Leuthold in 2017.

In an interview with Bloomberg Television earlier this month, Paulsen predicted that the S&P 500 would hit 5,000 in the coming 12 months, a far more bullish call than any provided by the strategists in a Bloomberg survey.

The U.S. benchmark index traded around 3,850 Friday, extending a weekly decline amid a wave of global central bank tightenings. 

This article was provided by Bloomberg News.