"Alltför smärtsamt att uppleva börsen dag för dag"

...för att inte tala om timme för timme, när svaga fundamenta hela tiden ackompagneras av stigande kurser, buy the dip och "dumma" spekulanter som tjänar pengar på långpositioner.

Hussman: What we don’t know is precisely when today's compressed and complacent risk premiums will crawl or spike higher, and one thing we’ve learned from testing hundreds of investment methods over a century of data is that many approaches that perform beautifully over the long-term would often have felt intolerable at a day-to-day resolution.

...

But the fact is that day after day of optimistic chatter in these overvalued, overbought, overbullish periods can create uncertainty and lead investors to ignore and forget what they have been taught again and again through painful experience.


Jag mår nästan fysiskt illa bara av beskrivningen av hur marknaden upplevs just nu.