他不是第一次這樣了
Wiki上面找到的資料：
By September 2010, Hussman managed US$6.7 billion. However, between 2013 and 2
017, he became increasingly bearish, asserting that the "quantitative easing"
("QE") and zero interest rate policies of the Federal Reserve had contributed
to a “hypervalued market”,[6] Hussman's investment performance suffered as a
result, and he was labeled a “permabear”. His performance during this perio
d sharply lagged the S&P 500, in contrast to the years prior to 2013. By late-
2017, assets under management had declined to US$1 billion. Hussman has regula
rly commented on his error during that period,[7] tracing it to his insistence
on stress-testing his methods against Depression-era data following the 2008
financial crisis, which led him to emphasize the importance of “overvalued, o
verbought, overbullish” conditions that had historically been reliable indica
tions of market tops.[8] In late-2017, he gave up, saying "Evidently, once int
erest rates hit zero, so did the collective IQ of Wall Street"
到 2010 年 9 月，Hussman 管理的資產達到 67 億美元。然而在 2013 到 2017 年之間
，他的看法變得越來越悲觀，主張美國聯準會的「量化寬鬆」（QE）與零利率政策造成了
「高度估值的市場」。因此他的投資績效受到影響，被貼上「永久空頭」（permabear）
的標籤。這段期間他的表現大幅落後 S&P 500，與 2013 年之前的亮眼成績形成對比。到
2017 年底，他的管理資產已下降至 10 億美元。
Hussman 多次評論自己在那段時間的錯誤，將原因追溯到 2008 年金融危機後，他堅持用
大蕭條時期的資料對模型進行壓力測試，讓他過度強調「高估值、過度買進、過度樂觀」
這些在歷史上通常代表市場見頂的訊號。
2017 年底，他放棄了這種做法，並表示：「顯然，一旦利率降到零，華爾街的集體智商
也跟著歸零了。」
就是輸了還要嘴砲的那種