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Thanks, that was a good read. El Erian seems Hussman-esque to me.
I think he could have coined a phrase I often heard in Sitka, Alaska: "If you can't see the Mountain top it's raining and if you can see the Mountain top...it's about to rain".
He seems very aware of the downside risks without spending much time identifying the potential rewards (mispricing of good investments due to increased volitility).
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I think he could have coined a phrase I often heard in Sitka, Alaska:
"If you can't see the Mountain top it's raining and if you can see the Mountain top...it's about to rain".
He seems very aware of the downside risks without spending much time identifying the potential rewards (mispricing of good investments due to increased volitility).