- Retail investors are all-in
- Institutional investor bullish sentiment is off the charts
- Cash is at a two-decade low in global investor portfolios
- RIA sentiment are at bullish extremes
- Hedge funds are in a crowded long in equities
However, I would warn the bears that they should not go overboard and short the market with both hands. In the past, euphoric sentiment has not a good indicator for pinpointing market tops.
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