Long-time bear in residence, John Hussman, says investors are facing a “trap door”
The manager says he’s finding it hard to get constructive on these “overvalued markets with ragged and divergent internals” — conditions that he notes were seen at 2000, 2007, and 2020 market peaks.
What does it all mean?
MarketWatch 5 december 2022
When the time comes to ask the question – “What triggered the crash?” – remember that this is the least important question.
A market crash requires nothing more than a shift in investor psychology from careless speculation to even modest risk-aversion.
The important question to ask is “What drove the bubble?” That’s where the lessons are.
The root causes of a crash are always the factors that nurtured and encouraged the “happy” period of carefree and irresponsible speculation that led to the bubble extreme.
John P. Hussman July 2021
https://englundmacro.blogspot.com/2021/07/what-triggered-crash-hussman-funds.html
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