Why so serious?

Monday 14 October 2024

The Market Ear on the exuberance free stock bubble

Curious case of depressed sentiment

The bull officially turns two today. Up more than 60% during the time period. Bull markets last more than five years on average, so there could for sure be more left in the tank. Why then are strategists, sentiment and positioning so utterly negative?

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.