John Hussman


John Peter Hussman is an American stock market analyst and mutual fund owner. From 1992 to 1998, Hussman was Professor of Economics and International Finance at the University of Michigan. In 1998–2000, Hussman set up Hussman Strategic Advisors, a hedge fund which successfully anticipated the dot-com bubble. Hussman also successfully anticipated the 2008–09 credit crisis, but has severely under performed since then.
In September 2010, Hussman managed US$ 6.7 billion. Since the post-2013 recovery, Hussman has remained bearish, asserting that central banking "quantitative easing" has distorted markets and created a false recovery, and inflated asset prices, which had led to extremely poor investment performance. As of 30 September 2019, Hussman's Strategic Growth fund had a 10-year average annual loss of -7.23%, compared to a 13.24% average annual gain by its benchmark, the S&P 500. By 2018, asset under management declined to USD 1 billion.
Hussman is also known for a strongly quantitative approach to macro-investing and produces a regular newsletter freely available on this website, that updates Hussman's forecast 10–year return on the S&P500, which since 2015, has remained below 0%. In July 2017, Hussman said that markets were "at the most offensive level of overvaluation in history" — even worse than in 1929 and 2000". In June 2018, Hussman forecast a fall in excess of 64%.
In addition to his activity as an investor, in 2004 he established the Hussman Foundation which seeks to "provide life-changing assistance through medical research, education, and direct aid to vulnerable populations having urgent needs or significant disabilities".