My latest post for Alpha Baskets is posted and includes the following;
Ramsay’s comment about expecting 3-4% returns over the next ten years reminds me of John Hussman’s process which simplistically put says that based on prevailing valuations the next X number of years should produce X% in annual returns. Hussman’s conclusions have not been correct during the bull run, he’s thought the markets have been overvalued all the way up such that return prospects were dim and even if he’s been right about valuation the market has of course skyrocketed.
Please click through to read the entire post.
Type 3 Engine from Summit Fire in Flagstaff at the Goodwin Fire in June
Ford Sportsman in Prescott from about a year ago
Type 4 from Idaho staged in Missoula in 2015