Dancing Without A Floor – “Sooner Or Later A Crash Is Coming… And It May Be Terrific”
by John Hussman
ZeroHedge.com
10/06/2014
There’s really no point in trying to convert anyone to our viewpoint. Somebody will have to hold stocks over the completion of the present cycle, and encouraging one investor to reduce risk simply means that someone else will have to bear it instead… In any event, be careful in believing that a market advance “proves” concerns about valuations wrong. What further advances actually do is simply extend the scope of the potential losses that are likely to follow. That lesson has been repeated across history.
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