Market Close To ‘Full Bull,’ BofA Says

Market Close To ‘Full Bull,’ BofA Says

We're close to "full bull," BofA's Michael Hartnett declared, in the latest edition of the bank's closely-watched Global Fund Manager survey. The November vintage is "the most bullish [survey] of 2020," Hartnett said Tuesday, and it comes courtesy of vaccines, the election, and macro expectations. Perhaps most notably, the November survey shows growth expectations are at a two-decade high. A net 91% of participants think the economy will be stronger over the next 12 months. This measure hasn't
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4 thoughts on “Market Close To ‘Full Bull,’ BofA Says

  1. Would not surprise me to see a correction here shortly followed by an investable opportunity to get to higher levels on S&P 500. A 5-10% correction followed by a 20-25% rally later this year into 2021. But we shall see.

  2. I wouldn’t argue with that.

    But.

    Sometimes, maybe most of the time, it is easier to figure out what is likely to happen to the index than what is likely to happen to an individual stock.

    This is one of the unusual times when I feel it is the reverse, not for most individual stocks, but for enough individual stocks to make up a portfolio.

    The number of factors that have whipped the SP500 around this year, and the unfamiliarity and opaqueness of some of those factors to me, make me pretty unwilling to make market calls a big part of my process right now.

    That just highlights my failings as a market strategist but, like Clint says, a man’s got to know his limitations.

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