That's not true. I only hate Muslims. I am a pedophile though.
That's not true. I only hate Muslims. I am a pedophile though.
You are very disturbed, Igy. Please seek professional help.
Advisor wrote:
You are very disturbed, Igy. Please seek professional help.
Advice given by Igy stalker Detector Dude/Trews.
It’s good advice, Igy. Take it.
A very interesting assessment. Like Hussman's reluctance to turn his back on buy-and-hold, the author understands the potential of embracing the bull.
To be clear, we’re encouraging long-term bulls to reconsider their assumptions, but we’re not advising them to dismantle carefully diversified portfolios (meaning those that are spread sensibly among multiple asset classes). We would be more likely to recommend a major portfolio shift if the usual bear-market catalysts—sharply rising inflation, high interest rates and poor credit conditions—were present.
Weekly Commentary, September 25, 2017
"Bubble Mindset"
John P. Hussman, Ph.D.
"So the mindset, I think, goes something like this. Yes, market valuations are elevated, but, you know, low interest rates justify higher valuations. Besides, there’s really no alternative to stocks because you’ll get what, 1% annually in cash? Look at how the market has done in recent years. There’s no comparison. Value investors who thought stocks were overpriced in recent years have been wrong, wrong, and wrong again, and even if they’re eventually right, being early is just the same as being wrong. The best bet is just to invest in a passive index fund for the long-term, and ignore the swings. There’s really no alternative."
"What’s notable about this mindset is its excruciating reliance on three ideas. The first is that low interest rates “justify†rich valuations. The second is that market returns simply emerge as a kind of providence from a higher power, perhaps magical gnomes, or the Federal Reserve if you like, and that those returns have no particular relationship to valuations even in the long-term. The third is that market returns during the recent advancing half-cycle are an accurate guide to future outcomes."
You gotta love Hussman's chutzpah. He actually has suckers that pay him for this tripe. Here’s his recipe...
1. Create an unlikely hypothetical situation.
2. Point out the potential downfalls associated with the situation (that he created!)
3. Sell this "insight" to morans who can’t think for themselves.
It’s quite brilliant. I’m sure he’s laughing all the way to the bank.
"I fully expect the completion of the current market cycle to wipe out the entire total return of the S&P 500, in excess of Treasury bill returns, all the way back to 2000, and more likely to roughly October 1997 (and that’s assuming that valuations don’t even breach historical norms). We’ve certainly drawn useful lessons from the recent half-cycle, but whether the market moves higher or lower in the near term, I doubt that value-conscious investors will lament having been “too early†by the time this cycle is completed."
John Hussman, Weekly commentary 9/25/2017
That’s another great example of the Hussman fog. He makes a wild guess with absolutely no evidence to support it, then sells it to these brainless followers of his. What a racket.
Mayfield wrote:
That’s another great example of the Hussman fog. He makes a wild guess with absolutely no evidence to support it, then sells it to these brainless followers of his. What a racket.
The Hussman Weekly Commentary is free and has been for over two decades.
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Mayfield wrote:
That’s another great example of the Hussman fog. He makes a wild guess with absolutely no evidence to support it, then sells it to these brainless followers of his. What a racket.
You give him too much credit. He is an epic idiot that has directly and indirectly cost investors a fortune.
So says the E*Trade investor with $20k in index funds.
Interesting chart, perhaps I have changed my mind?
https://mobile.twitter.com/HussmanFunds/status/912303875411075072?p=v
Index funds have seriously outperformed Hussman’s fund. He sucks.
That trend is soon to be reversed when inexperienced investors like yourself are taught a valuation lesson.
You don’t know me, so STFU.
I can tell by your naïveté my assessment is correct. You are in no position to critique Dr. John Hussman. So shush yourself up.