Dear Reader,

Today we welcome back fund manager and frequent contributor John Hussman. John shares excellent new analysis on the current condition of the stock market, which he deems “overvalued, overbought, and overbullish.”

What I like best about John’s research is you know what you’re getting. No bias, no politics, no preaching: just data. John has a reputation as a permabear, but he was actually bullish in the aftermath of the 2000 and 2008 stock market crashes. Being bullish made sense at those times because valuations were low. That’s not the case today; and as John will explain, overvaluation is just one of several reasons that the stock market in its current condition is a dangerous place to put your money.

Dan Steinhart
Managing Editor of The Casey Report