John Hussman Points Out the Market is not in "Uncharted Territory"
John Hussman, in his weekly commentary, provides well-researched commentary and enlightening charts in pointing out that we have been in similar dire times before. Although he is not bullish, Mr. Hussman indicates that with market valuations as compressed as they are currently, substantial rallies can be expected at any time.
Hussman writes:
“Meanwhile, it is notable that data that measure investor panic, such as
risk-premiums and intra-day market volatility, already match historical extremes
(1932, 1974, 1982, and 2002) – points where stock prices were not far from their
lows even though negative economic news persisted for a longer period.”
Source:
http://hussmanfunds.com/wmc/wmc081117.htm
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