Equity Market Valuations: We Haven't Been Here Before

“…. valuing the market has nothing to do with where it’s going to go next week or next month or next year, a line of thought we never get into. The fact is that markets behave in ways, sometimes for a very long stretch, that are not linked to value. Sooner or later, though, value counts.” – Warren Buffett

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As the equity bull market has entered its ninth year, market participants have voiced concerns over elevated valuation levels. John Hussman has been one of...