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It’s the future. Why don’t we have a 4-hour work week? 21 Aug 2013 | 08:31 pm
My friend Chris sent me a link to this provocative essay by David Graeber, “On the topic of bullshit jobs.” David raises the question of why we have so many paper-pushing service jobs that produce not...
Overbought, overvalued, overbullish, elevated bond yields: Hussman’s sell signal is active 20 Aug 2013 | 07:45 pm
In my book, the best long-term market statistician is mutual fund manager John Hussman, whose free weekly column is more valuable than any high-priced newsletter. Using a century of data, there is a ...
Gold stocks oversold and underloved 6 Mar 2013 | 07:08 pm
Sentiment and price action are extreme. Combined, they make a very strong case for a rebound. Gold stocks are also very cheap relative to the broad indices, as well as gold itself (which is also the m...
Extreme risk in equities 7 Feb 2013 | 01:04 am
We now have a syndrome that has rarely been followed by significant market gains, and almost always followed by a decline: Overvalued: Shiller PE above 18 (it’s 23) Overbullish: High “bullishness” and...
Active investment managers more bullish than ever 1 Feb 2013 | 05:54 am
The average active manager is now leveraged long, according to NAAIM’s weekly survey: Sustained bullishness is bearish, especially once the market starts to trend sideways. We don’t yet have that chop...
Hussman’s extreme risk syndrome present again 22 Jan 2013 | 07:04 pm
John Hussman does the best long-term statistical analysis of the broad equity market, bar none. He has identified a set of four conditions that has appeared at or just before significant tops in the s...
Philly Fed data shows US likely joining EU in recession 18 Jan 2013 | 07:02 pm
Chart from Doug Short, Advisor Perspectives:
Gold:Platinum ratio dips under 1.0 for first time in 8 months. 17 Jan 2013 | 07:03 pm
Platinum has had a sharp rally in recent sessions, while gold has been only slightly higher, bringing the two heavier precious metals (specific gravity of 19.30 for Au and 21.45 for Pt) to parity for ...
VIX plunges under 14. Mr. Market banishes all thoughts of bear. 4 Jan 2013 | 11:58 pm
This has been an extremely dramatic decline, from 22 to 13.9 in one trading week. Previous drops under 14 in recent years have been followed by limited upside in stocks and an increased incidence of s...
Still expecting rebound in JPY and Gold 27 Dec 2012 | 07:41 pm
Sentiment has remained compressed in these “risk-off” trades, as stocks have remained near their highs on neutral sentiment. I’m expecting sharp reversals in the near future, though I am long-term bea...
