There is an interesting article discussing “Former bears” and their recent bullish views on the current markets.
It makes for interesting reading regarding some contrarian thinkers.
I am thrilled to be on any list that includes Ned Davis, Mark Hulbert, Bernie Schaffer, Jon Markman, Gary Shilling, and Jim Stack:
“Barry Ritholtz: Barry made one of the most accurate bottom calls this past spring; he was bearish as early as 2006. By 2007 he forecast a Dow decline to 6,800 but remained 95% invested until August 2007. In March 2009 he called for “the mother of all bear market rallies.” Currently he is 75% long, 25% cash, with a few hedges (SDS and QID) to protect profits. Barry expects increased volatility: a vicious, 20%-30% correction eventually, but sees no sign yet that the rally is running out of steam.”
Note that came out before our 5-15% pullback call last week.
The whole piece is worth a read . . .
Former Bears’ Take on the Market’s Future
Money Show, October 18, 2009