In summary, the accuracy rate of John Hussman's stock market characterizations since September 2003 is well below average. His "valuation" measure has had no practical use.
Quote from Retief:
From the above link:
I see I'm not the only one that finds Hussman's commentary to be of no practical value. If you want to be scared out of the market, read Chicken Little, er, Hussman. If you want to make money, read something else.