As of last week, the Market Climate for stocks was characterized by modest overvaluation (except on earnings-based measures that assume a quick return to 2007 record profit margins) and a modest deterioration in already tepid market action, but sufficient to put us on alert. The Strategic Growth Fund is fully hedged here – invested in a broad range of individual stocks, with an offsetting short sale of equal size in the S&P 500, Russell 2000 and Nasdaq 100 indices.
Read the complete Hussman Weekly Market Comment
Read the complete Hussman Weekly Market Comment