Worth reading this fellow

Hussman is one the smartest money managers in the US. He will not throw investors' money at the latest fad, even it means he under performs the market. On the other hand, he wont lose his investors wads of dough like most did in 2008.

He has been very leery of the current stock market. He measures everything...stocks, bonds any assets on the ability of that asset to throw off cash flow in the future.

He provides excellent weekly analyses here:

http://www.hussmanfunds.com/

His latest piece is about Greek bonds and the stock market. HOWEVER just substitute Vancouver RE in the following statement.

"..the price of a security can be anything investors like. However arbitrary that price is, investors may be able to keep the asset on an upward path for some period of time, but the price will gradually bear less and less relation to the actual cash flows that will be delivered. At some point, the only reason to hold the asset will be the expectation of selling it to somebody else, even though it won't be delivering enough payments to justify the price. "

"An increasingly large portion of the asset price represents real money that is being paid for a "phantom asset" in the distant future, that bears no cash flows, and yet gets assigned positive value because investors assume they'll be able to sell it to a greater fool. Every asset bubble fundamentally reflects this error in thinking."

Unfortunately I have not been able to find any way to invest in Hussman's funds from Canada or he would have a large chunk of my money.