Archived commentary is historical in nature and should not be assumed to reflect the current investment outlook or investment practices of the Hussman Funds.| Hussman Funds
Equilibrium is like conservation of mass – every purchase is also a sale; every security that’s created must be held by someone until it is retired; the shortfall of one sector must be the surplus of another. Once you insist on thinking in terms of equilibrium, it becomes obvious how many discussions in economics and finance are incoherent.| Hussman Funds
September 4, 2017Valuations, Sufficient Statistics, and Breathtaking Risks| www.hussmanfunds.com
May 18, 2015 The "New Era" is an Old Story (and introducing Market Cap/GVA) | www.hussmanfunds.com
May 5, 2014 Cahm Viss Me Eef You Vahn to Live | www.hussmanfunds.com
What drives investment returns? Can you simply buy stocks at any price and assume you'll enjoy long-term returns on the order of 10% annually? The answer is no. Unfortunately, the financial industry often encourages investors to imagine this is how markets work. Is there some meaningful structure that drives returns? The answer is yes. Understanding it offers clear insights about how we got here, and where we may be going.| Hussman Funds
