Long-suffering market bears, like John Hussman
Hussman’s flagship $312-million Strategic Growth Fund focuses on “the protection of capital during unfavorable market conditions,”
He says a 65% retreat would be a “run-of-the-mill” decline.
He pointed to this chart of margin-adjusted price-to-earnings, which he says is one of the most reliable valuation measures he’s tested across historic market cycles:
https://www.marketwatch.com/story/ho-hum-a-65-market-plunge-would-be-run-of-the-mill-fund-manager-says-2019-05-07
More about Hussman
He says a 65% retreat would be a “run-of-the-mill” decline.
He pointed to this chart of margin-adjusted price-to-earnings, which he says is one of the most reliable valuation measures he’s tested across historic market cycles:
https://www.marketwatch.com/story/ho-hum-a-65-market-plunge-would-be-run-of-the-mill-fund-manager-says-2019-05-07
More about Hussman
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