I've included this chart in several recent comments, as it's probably the most important feature that investors should recognize in present market conditions. (hussmanfunds.com)
Given present market conditions, shareholders can be certain that I will continue to take an even - handed approach to both the risks and potential returns of the markets. (hussmanfunds.com)
Present market conditions now match 6 other instances in history: August 1929 (followed by the 85 % market decline of the Great Depression), November 1972 (followed by a market plunge in excess of 50 %), August 1987 (followed by a market crash in excess of 30 %), March 2000 (followed by a market plunge in excess of 50 %), May 2007 (followed by a market plunge in excess of 50 %), and January 2011 (followed by a market decline limited to just under 20 % as a result of central bank intervention). (hussman.net)