Barry Ritholtz says investor complacency “makes him nervous” – but is counter weighted by “Recession Porn”….
Story: “Recession Porn “confusing“: The flip side of the bullish trader sentiment is the obsession with every negative datapoint. From Roubini to Zero Hedge, people seem to be hunting down anything foreboding. (How funny is this tweet: zerohedge once again pissed that asteroid avoided colliding with earth)”
Ritholtz fails to mention the “Tony Robbins Stock Market Bottom” in August, when the motivational guru put out an infamous video in which he threw in the towel and essentially said “sell everything – we’re in a depression!” When Tony Robbins talks – the market listens – and does the opposite.
The more passionate “guru’s” are about their opinion – the more likely they are to be DEAD WRONG.
