John Hussman: US Stock Market is Overvalued, Overbought, Overbullish

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John Hussman: US Stock Market is Overvalued, Overbought, Overbullish

Continuing on our theme from yesterday that investor sentiment has reached an extreme level of jubilation, John Hussman writes that we’ve now reached the pantheon of “awful times to invest”: In recent weeks, the U.S. stock market has been characterized by an overvalued, overbought, overbullish, rising-yields syndrome that has historically been hostile to stocks. Last […]

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John Hussman: Why QE2 is Illegal, and Realistic Stock Return Expectations

Excellent commentary from John Hussman (as usual) in his most recent weekly piece. On expected returns based on dividend yields (yes, THAT barbaric measure of value): Our estimates for S&P 500 total returns remain below 5% at every horizon shorter than a decade. One can argue that 5% is “attractive” relative to less than 3% […]

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