hussmanfunds). Apparently we are experiencing now the "most unloved rally" (finance.yahoo).
This is ridiculous. Company profits climbed on a record high - and so did stock prices. So what? And weekly jobless claims shrunk on a five-year low.
I guess the negative sentiment is expressed by fund managers and other bad losers who missed the bull market. Many are still sitting on huge piles of cash and almost interest-free bonds, some lost a lot of money by betting against the rally (short-selling).
They don´t get it that the 130% plus rally is just a response to the economic upswing since spring 2009. Back then stock prices had fallen into a deep hole because the market priced in the coming Armageddon. But, the world recovered and company profits have been continuously rising.
I reckon that the rally has many years to go fueled by continuous climbing company profits thanks to the ongoing technological revolution (Internet, business software, robotics, genetic engineering, nanotechnology and more) and the catching-up process in China & other emerging markets.