Hedged In

John Hussman: Value Dinosaurs

This quote was also worth noting: "While stocks are now clearly undervalued, there is a reasonable chance that we will observe a retest of recent lows, or even lower lows, most probably early next year. Still, it's also possible that we have seen the lows, and that stocks might move substantially higher in the months ahead. The market is a discovery process, and information develops slowly."