Here are some articles I came across today; they are some of the better articles I’ve come across over the past few weeks.
http://www.hussmanfunds.com/wmc/wmc090803.htm
“We are not very good at “catching” gains from speculative investment themes that have a high probability of collapsing (for my part, I view the thesis of a sustained economic recovery as one of those themes).”
http://finance.yahoo.com/news/Is-This-Rally-Out-of-Sync-etfguide-2678982285.html?x=0&.v=1
“The ‘all-inclusive’ unemployment rate published by the Bureau of Labor Statistics is 16.4%…
…During prior bear market bottoms of historic proportions, P/E levels, dividend yields, and mutual fund cash reserves have always reached levels indicative of a market bottom.
Unless those indicators provide their stamp of approval, the market is overvalued and any rally will turn out to be short-lived. Based on those indicators, the market is grossly overvalued, still.”
