November 26, 2017 | Ignore the Hubris and Party On!

In the past, when I’ve written disparagingly about Wall Street’s bullish drumbeat, I never envisioned myself banging away on the kettle drums myself. And yet, with my latest forecasts for some key stock-market bellwethers, I have aligned Rick’s Picks with some of the most shrill and obnoxious hubris gushing from the likes of CNBC, Bloomberg and the Wall Street Journal. I don’t need to tell you how uncomfortable this makes me. But the charts are saying what they are saying, and I’ve learned to trust them more than my instincts. Mind you, I’ve still got one foot on the fire escape, and so should you. The decibel level of cocky bulls is at a millennial extreme and investors are all-in, seemingly certain that a global economic boom lies just ahead. By my lights, stocks are very richly priced even if this proves to be so.
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Rick Ackerman November 26th, 2017
Posted In: Rick's Picks