Another horror show today
Another horror show today
?♀️
Ghost of Igloi wrote:
“Do valuations still “work”?
“Investors sometimes assume that if the market continues to advance despite rich valuations, then the valuation measures must somehow be incorrect. That’s not how valuations work. If overvaluation itself was enough to drive prices lower, one could never observe extremes like 1929, 2000, and today, because the market would have been weighed down by far lesser extremes.“
—John Hussman, March Commentary
Serious question, Igy. Why should we give ANY credence to anything Hussman says? His Strategic Fund (the one he loves so much) is one of the worst funds EVER. Why when he had repeatedly shown to be a sham should we believe anything he says? Again, serious question. Morningstar considers his Strategic fund a joke.
Eh just another 675 dow point ramp in the last 50 minutes.
nice to see that - gives us some hope over the weekend.
just to be dashed on the prow of the Diamond Princess.
Sally Vix wrote:
Ghost of Igloi wrote:
“Do valuations still “work”?
“Investors sometimes assume that if the market continues to advance despite rich valuations, then the valuation measures must somehow be incorrect. That’s not how valuations work. If overvaluation itself was enough to drive prices lower, one could never observe extremes like 1929, 2000, and today, because the market would have been weighed down by far lesser extremes.“
—John Hussman, March Commentary
Serious question, Igy. Why should we give ANY credence to anything Hussman says? His Strategic Fund (the one he loves so much) is one of the worst funds EVER. Why when he had repeatedly shown to be a sham should we believe anything he says? Again, serious question. Morningstar considers his Strategic fund a joke.
sally many people buy funds like hussman's to serve as a hedge, shoudl something bad happen, like a global pandemic.
The thing is up 8% this year - that's what a bear fund is supposed to do. Kudos to him.
agip wrote:
Sally Vix wrote:
Serious question, Igy. Why should we give ANY credence to anything Hussman says? His Strategic Fund (the one he loves so much) is one of the worst funds EVER. Why when he had repeatedly shown to be a sham should we believe anything he says? Again, serious question. Morningstar considers his Strategic fund a joke.
sally many people buy funds like hussman's to serve as a hedge, shoudl something bad happen, like a global pandemic.
The thing is up 8% this year - that's what a bear fund is supposed to do. Kudos to him.
Bear funds are legit and used for hedges but the hussman fund seems more like an ideological thing than anything else. It's an investment strategy that's extremely and probably excessively bearish by fault of the strategy, not design
agip wrote:
Sally Vix wrote:
Serious question, Igy. Why should we give ANY credence to anything Hussman says? His Strategic Fund (the one he loves so much) is one of the worst funds EVER. Why when he had repeatedly shown to be a sham should we believe anything he says? Again, serious question. Morningstar considers his Strategic fund a joke.
sally many people buy funds like hussman's to serve as a hedge, shoudl something bad happen, like a global pandemic.
The thing is up 8% this year - that's what a bear fund is supposed to do. Kudos to him.
Agip and racket, thanks for the responses! It is weird because if you look at the summary - it shows it up for the year, but if you click on performance - it shows it down. But thanks for the responses!
Agip and Racket - take a look at this. The YTD shows a negative in the Performance overview at the top but in the Trailing returns v. benchmarks it shows a positive YTD. You guys are professionals so maybe you can explain. Thanks!
Sally Vix wrote:
Agip and Racket - take a look at this. The YTD shows a negative in the Performance overview at the top but in the Trailing returns v. benchmarks it shows a positive YTD. You guys are professionals so maybe you can explain. Thanks!
p=HSGFX
use morningstar to get returns - yahoo finance uses month end or quarter end or some such stale data.
Morningstar is the state of the art.
agip wrote:
Sally Vix wrote:
Agip and Racket - take a look at this. The YTD shows a negative in the Performance overview at the top but in the Trailing returns v. benchmarks it shows a positive YTD. You guys are professionals so maybe you can explain. Thanks!
p=HSGFX
use morningstar to get returns - yahoo finance uses month end or quarter end or some such stale data.
Morningstar is the state of the art.
Oh okay. Thanks, agip. YOu learn something new every day! LOL.
Racket wrote:
agip wrote:
sally many people buy funds like hussman's to serve as a hedge, shoudl something bad happen, like a global pandemic.
The thing is up 8% this year - that's what a bear fund is supposed to do. Kudos to him.
Bear funds are legit and used for hedges but the hussman fund seems more like an ideological thing than anything else. It's an investment strategy that's extremely and probably excessively bearish by fault of the strategy, not design
well look it's supposed to make money when everyone else is losing money.
Hussman would be an idiot to shrug and suddenly be anything but a bear fund. He is out of business if the market tanks and he loses money. People depend on him to make money at times like this. If he lost, he'd be out of business.
BUt yeah he's been bearish for decades and presumably will always be bearish. It's a niche, a marketing strategy. Bear funds have to always be bearish or they go out of business.
Earnings Scorecard: For Q4 2019 (with 98% of the companies in the S&P 500 reporting actual results), 70% of S&P 500 companies have reported a positive EPS surprise and 64% of S&P 500 companies have reported a positive revenue surprise.
Earnie wrote:
Earnings Scorecard: For Q4 2019 (with 98% of the companies in the S&P 500 reporting actual results), 70% of S&P 500 companies have reported a positive EPS surprise and 64% of S&P 500 companies have reported a positive revenue surprise.
so quaint.
like a message from a past world
agip wrote:
jaysus the fed wants to buy stocks
https://www.nytimes.com/2020/03/06/business/economy/fed-coronavirus-rate-cut-limited-ammunition.html?action=click&module=Top%20Stories&pgtype=Homepage
That strategy worked well for Japan. ?
Maserati wrote:
PPT in overdrive? Saving their bullets for Friday close?
Prescient
Giles Corey wrote:
Another horror show today
Not really.
Kleindienst wrote:
Next week will be positive week, albeit slightly, for at least two of the major indices.
?
Silver lining: I’m not buying tonight!?
The ramp was heroic, but just not enough. Of course the fed will buy directly, they buy through proxies now. Why not? The jig is up. Forget fiat currency, we will now have fiat equity! The cyclical march toward dictatorship. The corresponding revolution is still over the horizon.
Bought gas for $2.22 today, and will probably go lower.
VIX, VXX, TLT, BOIL, all sorts of action today.
agip wrote:
jaysus the fed wants to buy stocks
https://www.nytimes.com/2020/03/06/business/economy/fed-coronavirus-rate-cut-limited-ammunition.html?action=click&module=Top%20Stories&pgtype=Homepage
Yikes. Talk about smoke and mirrors.