Q: What about sentiment? The I.I. Report [Investors Intelligence], which people monitor, shows that bearishness is now at a 27 year low... Are people getting too optimistic, too exuberant over this rally?
A: I think people are getting complacent, but we've seen a strong of no bad news for the most part. People are comfortable with the Ukraine. They're comfortable with what's going on the Middle East. So I expect that there will be something which catches us all by surprise at some point, but generally speaking things are pretty good.
~ David Lebovitz, global market strategist, JPMorgan Asset Management, as appeared on CNBC, September 4, 2014
(Lebovitz has been in the investment business all of 6 years, landing his first job in July, 2008.)