http://www.youtube.com/watch?v=1rVLOKuA8Xg
This man was bullish during 2008 melt down. And he was right. He was still bullish beginning of this year. He, however, reduced his equity position by 30-40% mainly on the US stocks recently but he thinks emerging markets will do just fine.
He was concerned of potential policy mistake as a lot of governments have been hawkish in G20 meeting on their stance of fiscal policies.
Sentiment wise, I think it has reached quite an extreme point, as bearish as March 2009 before the reversal.
In my mind, the markets already have been trying to price in a double dipped recession already. I don't think we should get too bearish.
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