Wall Street: según el indicador de sentimiento de mercado de GMO está en un nivel muy peligroso

droblo

Administrator

"Our sentiment measure is comprised of the following measures: stock buybacks/issuance; IPO proceeds; IPO first-day pop; number of IPOs; insider buy/sell ratio; equity share of issuance; equity mutual fund net inflows; AAII bull-bear ratio; stock/bond relative performance; household % in cash; M&A activity; trailing S&P volatility; equity correlation; trailing small factor performance; closed-end fund discount; margin debt; high yield spread; high yield issuance share; new 52- week highs to lows; S&P distance from 200d moving average; trailing momentum factor performance.
It's quite the hodgepodge of indicators. But the bottom line is that they look stretched."

"Our finding, which comes as no great surprise, is that sentiment has reached an extreme level, fast approaching two standard deviations above its long-run average, which goes back to 1950," writes GMO's Edward Chancellor.
 
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