The relevant question would appear to be: what might cause this syndrome to repeat – or not – and why?

I always disclose a position if I write about something I own. You can see some of my prior calls here:

http://pragcap.com/how-are-we-doing

http://pragcap.com/the-trade-of-the-day-being-prudent

Not to toot my own horn, but my risk adjusted returns (and relative and absolute returns) over the last 4 years (since I started independent audits of my returns) have been very very good. Up 19% last year which is the crowning achievement of my investing career….

As for Cramer, I firmly believe he is doing investors a great disservice and abusing what could be a very useful and educational platform. I will continue to call him out for that. I try to tell things like they are….

also, can i ask you to post more cramer bashing items, he is the biggest fool in the world

Current Value 0.621
PFCF Range Percent Range Key Score
0.37 0.33 95% 100% 10.00 –
0.39 0.37 90% 95% 9.00 –
0.41 0.39 85% 90% 8.00 –
0.43 0.41 80% 85% 7.00 –
0.48 0.43 75% 80% 6.00 –
0.51 0.48 70% 75% 5.00 –
0.54 0.51 65% 70% 4.00 –
0.59 0.54 60% 65% 3.00 –
0.62 0.59 55% 60% 2.00 2.00
0.69 0.62 50% 55% 1.00 –
0.78 0.69 45% 50% (1.00) –
0.81 0.78 40% 45% (2.00) –
0.87 0.81 35% 40% (3.00) –
0.91 0.87 30% 35% (4.00) –
0.94 0.91 25% 30% (5.00) –
0.96 0.94 20% 25% (6.00) –
0.99 0.96 15% 20% (7.00) –
1.06 0.99 10% 15% (8.00) –
1.37 1.06 5% 10% (9.00) –
1.76 1.37 0% 5% (10.00) –
Points 2.00

I am not posting this because I think the market is cheap. Regular readers know I care very little about these valuation metrics. But, in an attempt to provide readers with a somewhat broad and unbiased look at the markets, it’s nice to post things like this every once in a while. I don’t have an agenda like 99% of financial websites.

Anonymous, even Hussman agrees that the long-term returns of the market are likely to be better than average after the steep declines. Even the case shiller PE is flawed. In my opinion, these metrics are mostly useless, but people follow them nonetheless….

enjoy

sorry, bud. you got that exactly backwards.

one, in a deflationary environment, replacement costs go down….way down…as factories are worthless etc (opens up topic of XXflation), but you have to weigh $2-3T of stimulus versus $30T of deleveraging…. can you write a piece about the velocity of money??

two, mkts bottom on low low tobin Q’s

three, things are not getting better, there are no green shoots….

four, the problem is that you (any many but not all) see everything so clearly, but the market sees only what is wants to see. And, of course, in the short term (or medium term) anything can happen.

This is where Soros is so perceptive. But he can afford to be against the trend.