74% of money managers are bullish on U.S. stocks, according to Barron’s, an all-time high by the magazine’s measurement.  Only 7% were bearish. Uh oh. “All-times highs in bullishness” is not something I generally like to hear.  If these managers are talking their book—and we have to assume they are—then this means they are likely...Read More

It’s that time of year again, dear reader.  Twice per year, Barron’s does a survey of large professional money managers to get their outlook for the market (see “Reason to Cheer”). I get a lot of value out of reading the survey results, but not necessarily for the reasons you might think.  This is a...Read More