http://www.youtube.com/watch?v=1rVLOKuA8Xg

This man was bullish during 2008 melt down. And he was right. He was still bullish beginning of this year. He, however, reduced his equity position by 30-40% mainly on the US stocks recently but he thinks emerging markets will do just fine.

He was concerned of potential policy mistake as a lot of governments have been hawkish in G20 meeting on their stance of fiscal policies.

Sentiment wise, I think it has reached quite an extreme point, as bearish as March 2009 before the reversal.



In my mind, the markets already have been trying to price in a double dipped recession already. I don't think we should get too bearish.