Analysts, as we’ve noted, tend to be an optimistic bunch — except in the aftermath of recessions, when they tend to overcompensate.
But their bearishness, when it finally does arrive, doesn’t always translate into the expected “sell” ratings for companies.
Two charts, both courtesy of Bespoke Investment Group:
Related links:
Hold us to death – Bespoke Investment Group
Too bullish, too bearish, whatever… – FT Alphaville
Just don’t check their pockets, then – FT Alphaville