Yes, those are valid criticism of him but I was not advocating for investing in his funds nor whether his advice over a long time is correct or not. That is irrelevant to me, the question I have is does his idea at present hold merit to me in view of everything else I am seeing. His article was not significantly different than Bogle's view that the market is fully valued. Yes the market can go up another 100% from here, but is the likelihood of gain greater than the risk of decline?
I like Hussmans analysis, and look at his writings every so often.
What he did worked well in the past (1998 - 2009), not so good afterwards. The issue he was hit with in my view was the classic "markets can stay irrational longer than you can stay solvent", together with the even more classic "past behavior is no garantuee for the future".
So he adjusted his approach and is now trying to gauge market sentiment. This to see whether he can detect the "trigger" point when an overvalued market starts to self-correct.
For him (financially) it won't matter much, the management fee in itself more than assured him a decent life.