No one knows what the stock market is going to do, but if you want to get an informed sense of what it might do, it helps to understand what it has done.
And in the debate about where we’re headed next, one common mistake is confining observations of market history to recent trends instead of the many generations of market data that are now available.
One analyst who takes this long view is John Hussman of the Hussman Funds.
Hussman’s reputation has been clobbered of late because he missed the market turn in 2009 and then acted on his more recent concern about an impending crash several years too early.
As the market has struggled over the past 18 months, however, Hussman’s concerns have been partially vindicated.
And those hoping that the recent 15% drop from the peak was just a little bobble in a great new bull market won’t like where Hussman thinks we’re headed next.
Specifically …
Here’s where we are
 – Business Insider){kind=link}