Ghost of Igloi wrote:
https://www.zerohedge.com/s3/files/inline-images/great_melt_up.jpg?itok=CPYd80dH
I like how this seems to unironically use an Illuminati type symbol to represent the Federal Reserve.
Ghost of Igloi wrote:
https://www.zerohedge.com/s3/files/inline-images/great_melt_up.jpg?itok=CPYd80dH
I like how this seems to unironically use an Illuminati type symbol to represent the Federal Reserve.
https://www.marketplace.org/2014/03/03/creepy-eye-back-dollar-bill-explained/Racket wrote:
Ghost of Igloi wrote:
https://www.zerohedge.com/s3/files/inline-images/great_melt_up.jpg?itok=CPYd80dHI like how this seems to unironically use an Illuminati type symbol to represent the Federal Reserve.
Napoleon’s 1798 Egyptian campaign and subsequent discovery of Rosetta Stone (1799) inspired symbolism for Freemasonry to Mormonism in this country. Fascination was a world wide experience.
I don’t blame you for trying to change the subject. You’ve really been taking it on the chin here lately.
Speaking of loogie, you’re a spitting image of Detector Dude (the sorry Igy infatuated loser).
Don’t know him, but he sounds like a great guy. Too bad the same cannot be said of you.
You can’t miss Detector Dude, he posts about Igy daily.
Loge wrote:
You can’t miss Detector Dude, he posts about Igy daily.
Is that right, Igy? You post here more than anyone. And you’re almost always wrong. Hahahahahahahaha
Just for you Detector Dude:
“Yet for all the bullish exuberance, speculative enthusiasm, and fear-of-missing-out (FOMO) we’ve observed among investors in recent weeks, and indeed, in the past two years, the fact is that a pullback of just 11% in the S&P 500 would place the total return of the S&P 500 Index behind the return on Treasury bills since the January 26, 2018 market high. Given current overextended extremes, the entire gain of the S&P 500 since early-2018 could be given up in a handful of trading sessions.”
John Hussman, January 2020 market comment
A lot of “ifs” there. I think Hussman is feeling the heat. He’s losing his chutzpah.
“So how do you get to historically run-of-the-mill valuation norms? The answer is simple: Wait nearly 30 years, allowing both the U.S. economy and U.S. corporate revenues to grow at the same rate as the past two decades, while stock prices remain unchanged, with no intervening periods of recession or investor risk-aversion, or alternatively (and far more likely), watch the S&P 500 lose two-thirds of its value over the completion of this market cycle.
Market valuations stand nearly three times the historically run-of-the-mill valuation levels from which stocks have historically generated run-of-the-mill long-term returns.
Think about what a two-thirds market loss actually means. It means a loss of 30% in the S&P 500, then another 30% of that, and then 30% of what’s left. Frankly, my view is that the first 30% market loss from recent highs will be the beginning, not the end of the bear market ahead. If history is any guide, the initial phase of the next bear market will occur without any consensus at all about recession risk. Indeed, most initial bear market declines are accompanied with versions of Herbert Hoover’s 1929 statement that ‘the fundamental business of the country is on a sound and prosperous basis.’”
John Hussman, January 2020 market commentary
Running scared wrote:
A lot of “ifs” there. I think Hussman is feeling the heat. He’s losing his chutzpah.
And Detector Dude, as usual you’re gaining putz-pah status
Ghost of Igloi wrote:
John Hussman, January 2020 market commentary
?
Ghost of Igloi wrote:
“So how do you get to historically run-of-the-mill valuation norms? The answer is simple: Wait nearly 30 years, allowing both the U.S. economy and U.S. corporate revenues to grow at the same rate as the past two decades, while stock prices remain unchanged, with no intervening periods of recession or investor risk-aversion, or alternatively (and far more likely), watch the S&P 500 lose two-thirds of its value over the completion of this market cycle.
Market valuations stand nearly three times the historically run-of-the-mill valuation levels from which stocks have historically generated run-of-the-mill long-term returns.
Think about what a two-thirds market loss actually means. It means a loss of 30% in the S&P 500, then another 30% of that, and then 30% of what’s left. Frankly, my view is that the first 30% market loss from recent highs will be the beginning, not the end of the bear market ahead. If history is any guide, the initial phase of the next bear market will occur without any consensus at all about recession risk. Indeed, most initial bear market declines are accompanied with versions of Herbert Hoover’s 1929 statement that ‘the fundamental business of the country is on a sound and prosperous basis.’”
John Hussman, January 2020 market commentary
So says the guy whose Signature Strategic Growth Fund has lost exactly two-thirds of its value since its all time high, just eleven years ago. At least he speaks from a position of experience. Just not the kind of experience i would want to emulate.
“the fundamental business of the country is on a sound and prosperous basis.’”
Seattle prattle (on a different, read: faster, browser) wrote:
Ghost of Igloi wrote:
“So how do you get to historically run-of-the-mill valuation norms? The answer is simple: Wait nearly 30 years, allowing both the U.S. economy and U.S. corporate revenues to grow at the same rate as the past two decades, while stock prices remain unchanged, with no intervening periods of recession or investor risk-aversion, or alternatively (and far more likely), watch the S&P 500 lose two-thirds of its value over the completion of this market cycle.
Market valuations stand nearly three times the historically run-of-the-mill valuation levels from which stocks have historically generated run-of-the-mill long-term returns.
Think about what a two-thirds market loss actually means. It means a loss of 30% in the S&P 500, then another 30% of that, and then 30% of what’s left. Frankly, my view is that the first 30% market loss from recent highs will be the beginning, not the end of the bear market ahead. If history is any guide, the initial phase of the next bear market will occur without any consensus at all about recession risk. Indeed, most initial bear market declines are accompanied with versions of Herbert Hoover’s 1929 statement that ‘the fundamental business of the country is on a sound and prosperous basis.’”
John Hussman, January 2020 market commentary
So says the guy whose Signature Strategic Growth Fund has lost exactly two-thirds of its value since its all time high, just eleven years ago. At least he speaks from a position of experience. Just not the kind of experience i would want to emulate.
Hussman is clearly an idiot. I do not understand Igy’s infatuation with him.
Seattle prattle (on a different, read: faster, browser) wrote:
Ghost of Igloi wrote:
“So how do you get to historically run-of-the-mill valuation norms? The answer is simple: Wait nearly 30 years, allowing both the U.S. economy and U.S. corporate revenues to grow at the same rate as the past two decades, while stock prices remain unchanged, with no intervening periods of recession or investor risk-aversion, or alternatively (and far more likely), watch the S&P 500 lose two-thirds of its value over the completion of this market cycle.
Market valuations stand nearly three times the historically run-of-the-mill valuation levels from which stocks have historically generated run-of-the-mill long-term returns.
Think about what a two-thirds market loss actually means. It means a loss of 30% in the S&P 500, then another 30% of that, and then 30% of what’s left. Frankly, my view is that the first 30% market loss from recent highs will be the beginning, not the end of the bear market ahead. If history is any guide, the initial phase of the next bear market will occur without any consensus at all about recession risk. Indeed, most initial bear market declines are accompanied with versions of Herbert Hoover’s 1929 statement that ‘the fundamental business of the country is on a sound and prosperous basis.’”
John Hussman, January 2020 market commentary
So says the guy whose Signature Strategic Growth Fund has lost exactly two-thirds of its value since its all time high, just eleven years ago. At least he speaks from a position of experience. Just not the kind of experience i would want to emulate.
OK, but TNA is still off 8/31/2018 high of $97.12 or -25%; during that same time frame HSGFX is down -12%.
J. Hardy wrote:
Seattle prattle (on a different, read: faster, browser) wrote:
So says the guy whose Signature Strategic Growth Fund has lost exactly two-thirds of its value since its all time high, just eleven years ago. At least he speaks from a position of experience. Just not the kind of experience i would want to emulate.
Hussman is clearly an idiot. I do not understand Igy’s infatuation with him.
Cleary you are an idiot and you will eat this post.
Just here to congratulate this thread on occasionally being right. If it were baseball, you'd be doing pretty good, down somewhere significantly less than half the time but more than a fifth.