Summary Comments: Majority market opinion is calling for a correction or using the industry’s most over used term, “overbought.” The current street banter seems to center on the theme equities are overbought, speculation is rampant and it’s a stock love fest. However, our experience is that we have never seen a significant correction when everyone is talking about how “overbought” the market is or how stocks are way “too extended.” We find it hard to believe that after hiding under a rock for nearly five years, that a few months of equity inflows means investors have gone from petrified to exuberant. That process in our opinion is a longer arc, not a singular event. While clearly markets can and will have pullbacks. We think the overbought chatter comes from many investors rationalizing aloud why they are under-invested.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.