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Stocks priced for over a decade of negative nominal returns

John Hussman’s October letter includes the chart below, which graphs the actual 12-year nominal annual return for stocks from the rare historic incidents when valuations were as high as presently.  Here’s the bottom line: At valuations that presently stand at … Continue reading

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Hubris bites Paulson: “Our bets were too aggressive.”

“A humbled John Paulson told investors on Thursday he was “too aggressive” with some of the stock bets in his flagship funds and he is trimming back some of his riskiest holdings. The hedge fund manager told clients in a … Continue reading

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A loonie named Icarus

Here are just a couple of reasons we believe that the recent spike in the C$ is temporary and our current expectation is for C$ reversion to levels between 91-85 area. Worldwide austerity due to over consumed debt-laden countries will … Continue reading

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