Gauging market sentiment: Selling greed is harder than buying fear
from CFA Institute's Enterprising Investor
From Feb. 21
: A lot changes in a year. Twelve months ago, stocks welcomed 2016 with a double-digit decline. Fears of recession took hold as oil spiraled downward to $26 per barrel and the specter of deflationary collapse gripped the market. There is a common Wall Street adage about investor psychology: “Nothing changes sentiment quite like price,” and many sentiment measures registered levels unseen since the financial crisis.
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