We'll happily abandon our nagging negativism on the stock market when everyone stops saying it's time to buy because everyone's bearish. As was nicely enunciated last week by an options maven in this space, the professed ubiquitous bearishness doesn't square with unmistakable evidence of widespread stealth bullishness. We'll pay more heed to the optimism of the most luminous pundits, including those few who properly urged caution in advance of the debacle, when they stop offering projections five and seven years out in urging one and all to invest now.
~ Alan Abelson, "A Plague of Prophecy," Barron's, January 5, 2009
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