Making good progress on the book, about 60-70% finished (I feel good about it). I wanted to pop out of hiding to share a few charts/tables that should raise your confidence levels that — despite media coverage to the contrary — we are not on the verge of collapse.

I want to direct your attention to the latest missive from Savita Subramanian, who runs the Equity and Quant Strategy group at BAML.

In response to repeated inquiries from BofA clients, Savita looked at numerous indicators that collectively suggest markets are topping. She observes it is less about the things investors tend to focus on — “technical analysis, geopolitics, behavioral finance and even skirt hemline trends” — and more about specific measures she tracks in sentiment, valuation, macro-economic areas.

The table above shows the major market peaks going back to 1990. These include July 1990 (1990-91 recession), March 2000 (dotcom top),

Keep reading this article on Barry Ritholtz - The Big Picture.

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