Johnny Hussman wrote:
DOW 30K baby! wrote:
You forgot to change your handle, Igy. That time you replied to yourself. Hahahahahahaha.
Oh man, I hate when that happens!
"Well, valuations may matter eventually,â€ some investors may be thinking, â€œbut timing is everything.â€ Iâ€™ll offer my view about that notion. The only timing that matters is the action one takes during the space between the emergence of an opportunity and the point that it goes away. As one of the few observers to anticipate both the 2000-2002 and 2007-2009 market collapses, with a constructive shift in-between, tell me how the criticism that I was â€œtoo earlyâ€ actually mattered by the time those declines wiped out the entire total return of the S&P 500, in excess of Treasury bills, all the way back to May 1996, and June 1995, respectively. For most investors, â€œtimingâ€ wasnâ€™t their friend at all, because they squandered the opportunity to take action at any point of overvaluation."
John Hussman, Weekly Commentary 9/4/2017
Are you seriously suggesting that it's never too early to be out of the market? That's got to be the dumbest investment advice I've ever read.