#39: John Hussman On Navigating One Of The Most Overextended Stock Markets Of All Time
Superinvestors and the Art of Worldly Wisdom
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How to Get Rid of Zero Interest Hot Potatoes
The S&P 500 nominal total returns over the next 12 years is about negative 4.4%. We can call it zero, but it's not good at least in terms of things that have a 90% plus correlation with actual subsequent returns. The only way to get rid of it and buy stocks is you go ahead and buy those stocks and guess where the dollar goes in the hands of the seller. So now that person owns this zero interest hot potato burning a hole in their pocket.
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