“Euphoric” – S&P Risk-Reward Surges To Worst Level In 23 Years

Despite the constant clamor of money-on-the-sidelines (which Cliff Asness has summarily dismissed as being idiotic) about to take stocks on their next leg higher, and near-record high bullish investor sentiment, it appears institutional selling is doing nothing to affect the ‘euphoric’ levels of risk-to-reward in the markets.
Full of bull…

This post was published at Zero Hedge on Feb 9, 2017.