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

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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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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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