The persistently high level of bullish sentiment remained intact this week as both the AAII and Investor’s Intelligence surveys showed excessive levels of bullishness. According to the latest Investor’s Intelligence survey bullishness declined just marginally to 54.5% from 55.6%. Despite the decline this is still a very high historical level. With just 20.6% bearish sentiment the bull/bear ratio is now at a stretched level of 2.65.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.