The Heavy Weight Hussman
I love reading John Hussman's stuff, but the first stuff of his that I read was not investment, but fitness over 10 years ago. He is an awesome supporter of the Body for Life Program, which is an awesome program.
Now, imagine my surprise when I start looking at the market and I find he is awesome on what he writes about the market as well.
Anyway, I thought his Misallocating Resources piece was very well written and brings out a lot of good points. He has state quite well something I have brought up in the past about technical trading. There are so many using it, it is functioning no longer of true market signals, but on traders. My thoughts when how technical trading works was first explained to me was that the more people who use it, the less reliable it becomes. I love the way he writes about this in the opening of the link.
He also does some great explaining on how all P/E are not equal and comparison's of what is being touted as the P/E today is different then what was used in the past.
Anyway, Misallocating Resources is a good read.