Like John Hussman, I don't know what to do either!
Doc Hussman has proven himself right on the money in his 2007 letter; low single digit returns in the coming years (this is a pre-crash letter). Continuing my annual review of old writings, I find Mr. Hussmans 2009 letter. He's lookin' pretty good. His HSGFX is killing it for all the reasons he warned us about in 2007.
Now as the years are passing, and thankfully the world did not end in 2009, we continue with our low annualized returns, but his HSGFX is being crushed. It makes him look like a dummy. So how can he be so right and then do the wrong thing based upon that right-ness?
It's a fair question as I try to figure out how to prepare for what's ahead. We can see what's there, but we can't tell how far off. Bummer.