From Bloomberg:
Aug. 26 (Bloomberg) -- Pessimism about U.S. stocks fell to the lowest level since the Standard & Poor’s 500 Index peaked in October 2007, as economic reports and policy makers indicate the recession in the world’s largest economy is easing.
The proportion of bearish newsletter writers dropped to 19.8 percent in the week ended yesterday from 23.1 percent in the period that ended Aug. 18, a survey by Investors Intelligence showed today. Bullish stock advisors climbed to 51.6 percent from 48.3 percent, reaching the highest reading since December 2007, the New Rochelle, New York-based firm said
2 comments:
Didn't you hear...the recession is over.
The recession may well be over. But the economy and the stock market are two different things. Agreement about the economy is neither here nor there. But agreement about the stock market is something to be noted and should raise caution flags. Buffett used to say "one pays a high price for a cheery consensus."
Post a Comment