A diary of the thought process behind my investment decisions
More Anecdotal Evidence Of Giddy Sentiment
The Merrill Lynch fund manager survey is out and is showing that fund managers have the highest level of confidence since 2006 and lowest levels of cash since 2004. This is astounding given the state of the economy and that they have to pay 60% more for stocks than they did a few short months ago. Is that logical or is that classical herding behavior?