Stock Market Sherpas – Pessimism Hurts Profits

Exactly a year ago “pessimists” were fretting over what they called an “expected hard landing” (whatever that is) in China, doubling it up with “deflation fears” in the West. Anybody noticed that suddenly it’s Inflation Fears, Brexit and Trump that’s renewed their Valium prescriptions? (One good thing about these folks though is that their elbows and rear ends are interchangeable).