Laird, you must be misquoting Hussman. Surely, we had only two crashes in the last 100 years, with at least 20,000 trading days, of which 4% is 800 trading days, and I doubt we have had "ripe conditions" for a crash so many times.
Hussman argues that overall stock market conditions are conducive to crashes only about 4% of the time
There is nothing "only" about 4% of the time. That's on average more than once a month. If his hocus-pocus had any basis in reality we would be experiencing market meltdowns every six months.
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