Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
hussmanfunds.com
Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
1–10 of 163 posts
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#2What matters more - the size of the theatre or the size of its exits?
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#3Lots of permabears will go long when it's obvious markets are headed up, not Hussman.
https://www.hussmanfunds.com/strategic-growth-fund/
As always, Hussman manages the near impossible feat of reliably losing money in virtually any market environment
The Dow has risen 5k in a year and Hussman still manages to be in the red....I'm sure his clients are thrilled
on top of the how-is-that-possible string of losses in every fund he manages across any time frame...his expense ratio is insane! 5% fee ratio to lose money in a bull market...sign me up?
his clients would be better off maxing out a string of savings accounts to earn 0.1% interest but get FDIC coverage
most permabears since the 80s realized you can't fight the Fed, even if the whole system is based on BS
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#4What matters more - the size of the theatre or the size of its exits?
Depends - is there a fire?
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#5This guy expects a market loss of about -65%, which would send the S&P 500 back down to 900. He also expects negative total returns over the next 12 years.
Of course, his Strategic Growth Fund has not only underperformed its benchmark (the S&P 500 index), the fund actually has negative returns over the past 1, 3, 5, and 10 year periods[1].
Losing money in this market is a truly remarkable feat.
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#6I should add Fiat currency...
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#7Lots of permabears will go long when it's obvious markets are headed up, not Hussman. https://www.hussmanfunds.com/strategic-growth-fund/ As always, Hussman manages the near impossible feat of reliably losing money in virtually any market environment The Dow has risen 5k in a year and Hussman still manages to be in the red....I'm sure his clients are thrilled on top of the how-is-that-possible string of losses in eve…
It’s a canary in the coal mine IMO. Sure, he’s early; but he’s not wrong. A very significant portion of growth over the last decade has been the growing ability of US companies to avoid paying US taxes. That growth eventually caps out until you reach a 0% corporate tax rate — the problem here is that shifts the tax burden 100% onto the populace, which absolutely destroys consumer spending and ultimately the economy as a whole.
Right now they’re just turning these changes in the tax rate into enterprise value, but it’s a one-time shot. And if you do too much of it, you undermine the economy. But the corporations can’t help themselves, so we will have yet another boom-bust cycle.
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#8This guy expects a market loss of about -65%, which would send the S&P 500 back down to 900. He also expects negative total returns over the next 12 years. Of course, his Strategic Growth Fund has not only underperformed its benchmark (the S&P 500 index), the fund actually has negative returns over the past 1, 3, 5, and 10 year periods[1]. Losing money in this market is a truly remarkable feat. [1]: https://www.hussm…
This is why I come to Hacker News.
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#9The economy is just a mechanism to have a predictable environment in which to raise children.
Re: Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
#10Great article