May 8, 2017

Risk happens fast

"Market expectations can be argued to be at their highest level at any time in this bull market that started in the first week of March 2009. Optimism in and of itself is not dangerous, but it is tautological that risk and disappointment expand as optimism multiplies."

Doug Kass is concerned about pricing momentum and the cycle of money pouring into ETF's. He still thinks the market is topping out with fundamentals getting worse.

via Realclearmarkets