Real Cliff Hanger," Up & Down Wall Street, Dec. 3)? Does a bear defecate in the woods? As Alan Abelson duly noted, Hussman has compiled quite a record over the years, staggering in both its grandness and ineptitude. From Nov. 21, 2000, to March 9, 2009, the low of the last down cycle, his flagship Hussman Strategic Growth Fund gained 92% while the Vanguard Total Stock Market Index Fund lost 37%. Since March 9, 2009, to Dec. 5, 2012, his fund lost 11% while Vanguard Total Stock gained over 130%.

I love Hussman's discipline, research, transparency, and integrity, but his overreliance on fundamental and economic indicators, with very little weight on technicals, has led him astray. Valuation indicators are terrible for timing. Even after last year's 20% decline inas industrialization occurs in each country, and how world-wide epidemiological trends are one of the best medical pointers to the North-South divide. The second part of the article is given over to a study of the way in which the application of tuberculosis treatments in both France and Algeria is a function of the organization of the health system in each country, of the status and power of the medical profession within society, and of the impact of technical innovations on the changing forms of care for tubercular patients in both countries. In France, it can be seen that the structure of the system set up to combat tuberculosis in the inter-war years has tended to remain unchanged, despite the opportunities for re-organization of tuberculosis treatment and for