S'pore investors upbeat on markets: survey

[kazukirai]

Michael Maboussin made an assertion in his book 'More than you know' that I thought was very interesting. I don't have the book with me anymore but I think the idea was that Markets are 'efficient' or at least closest to being efficient or fairly priced as long as there are diverse enough opinions i.e Enough bulls and bears at the same time. It's when you have most people on only one side of the fence which is where you see the market overshooting to the upside or the downside.

So having said that, I can only guess when they polled or tabulated their results but that probably explains, in part, why the market picked up towards the end of last year. Where it leads to is another story. This survey is probably useless by now.