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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (18141)8/30/2004 12:01:17 AM
From: ild  Read Replies (2) of 110194
 
There Is No Such Thing As Free Money
Profits in the financial markets accrue by consistently and systematically providing three scarce, useful resources – liquidity, risk-bearing, and information. In the context of the current financial and economic environment, it is difficult to see how bearing a substantial amount of market risk here provides either the economy or other investors any particularly scarce or useful service.
By John P. Hussman, Ph.D.
hussmanfunds.com
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