I hate to sound too bearish, but I have to go with what I see in the marketplace. Bullishness is approaching levels not seen since April when the market had an ugly correction. I was certainly taken aback at a recent article I read at Bloomberg about esteemed money manager Mark Mobius and his comments on the market. Whenever anybody is this confident in either direction, it is time to take stock and re-evaluate the investing landscape.
What Did He Say?
I will start you off with the quotes that worried me. “I’m pretty optimistic. I don’t see any risks any time soon. These things can last for years and years.” Those are pretty forceful statements and not to acknowledge even a risk now of being long smacks of utter complacency only seen near market tops. Stocks have soared through the roof since early September without even a 2% pullback along the way, and he doesn’t see a risk? He might be right, but odds are that this kind of bullishness after such a rise is cause for concern.
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