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Insights from Investors Intelligence Data
Investors Intelligence has been publishing their survey of investment advisors and newsletter writers since 1963. The initial presumption was that when all of the smart guys started leaning one way, then that was the way to lean. But they quickly found that when even the smart guys are all convinced one way or the other, the market was more likely to move the other way. Since then, the Investors Intelligence spread between %Bulls and %Bears has become a favorite contrarian sentiment indicator for a lot of people. The chart above shows that bull bear spread. Investors Intelligence surveys approximately 200 newsletter ... (full story)