Richard Russell Turns Bullish: Is the End Nigh?

One sure sign of a market top is when even uber-bears capitulate. So, with Richard Russell turning highly bullish about a world boom after refusing to buy into the market advance since 2002, is the end nigh?

I think not, but I know what my friend Herb will say.


  1. this may be the single most ominous market data point i have witnesed since jeff bezos appeared on the cover of time magazine circa q4 ’99…

  2. I think its going to get very silly before its all done. the public is not even in yet. no water cooler or coctail party chatter yet. it will get very silly with hedge funds and p/e leading the way.

  3. Richard Rodgers says:

    I wonder if the Private Equity boom will create lower supply in the US public market such that prices will rise…basic economics. Is the PE boom that big? Do you have any stats on what PE funds have taken out of the public markets in terms of market cap?
    Has anyone else noticed that PE no longer stands for Price/earnings ratio? Is this a data point on th PE boom?

  4. no the most obvious top in late 90s was when Fortune Yahoo!d’ its cover twice in like a month. The kiddies had taken over the magazine leaving me searching for the adults like Carol Loomis…

  5. franklin stubbs says:

    Speaking of Fortune, how about their latest cover?
    “BUSINESS IS BACK! Profits are boffo. Stocks are on fire (Keep your fingers crossed) and the rogues are behind bars. Now CEOs are standing up and speaking out again.”
    As for Joe Public not getting in yet, it’s because his mortgage and credit card nut is bigger than the e-trade account. Investors are doing their best to ignore US-centric factors this time around.