It will take a lot to change John Hussman's view towards the market. In this week's market comment, he argued acedamically and convincingly that Fed's QE2 will not work.
In addition, he essentially repeated his market assessments of the past few weeks:
Read the complete market comment at www.hussmanfunds.com.
In addition, he essentially repeated his market assessments of the past few weeks:
As of last week, the Market Climate for stocks remained characterized by an overvalued, overbought, overbullish condition. This has been historically associated with a poor return-risk profile and "negative skew" - a tendency for the market to establish a string of marginal new highs, and for occasional 2-3 day pullbacks to be followed by sharp recoveries. The pattern is for little overall progress, but repeated slight highs, terminating with a steep, abrupt decline that can wipe out weeks or months of gains in a matter of days. In statistical terms, the mode of the distribution is positive, the mean is negative, and the skew is downright wicked.
Read the complete market comment at www.hussmanfunds.com.
