The very erudite Dr. John Hussman is as good as a market researcher as there is, and he defines a set of market conditions that when they come together generally leads to poor equity performance. One of Hussman's syndromes is the "overbought, over-bullish, overvalued, and rising yields syndrome."
My own research would agree this assessment. The markets tend not to do well when yields are rising and when investor sentiment is overly bullish. These constructs have formed the basis of
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