This Time is Different?

Latest Hussman: "A Fed-Induced Speculative Blowoff" - "the S&P 500 would currently have to stand at 748 in order to be priced to achieve long-term total returns of 10% annually".

ZH: "The Rydex Buying Power indicator is at its lowest point in 10 years. No doubt investors believe that Ben Bernanke (a.k.a., Santa Claus) and his merry elves will continue to deliver great returns in the months ahead. It will be Christmas everyday!"

Sell the S&P 500 when the dividend yield falls below three percent - except during the equities bubble of the past 25 years!

WSJ: "Investors may have nothing to fear but the lack of fear itself."