Hussman - Increasingly Immediate Impulses to Buy the Dip (or, How to Blow a Bubble)

``Undoubtedly, the eagerness of investors to aggressively buy every dip has been driven by the confidence that quantitative easing supports those actions. Still, I doubt that investors have seriously considered the fact that each round of QE has had successively smaller effects, nor that they have asked themselves exactly the mechanism by which QE "works."''