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The boys over at Bespoke noted recently that analysts have never been less bullish than they are currently:

According to Bloomberg statistics that track analyst buy, sell, and hold ratings, only 36% of all ratings are currently buys. As the chart below shows, this is the lowest level since at least 1997, and significantly lower than the 75% level we saw in 1997 and 2000.

If, for the first time in financial history, analysts are no longer bulls but still not outright bears what are they?

I fear there is only one other possibility and, if it’s true, no bailout will be able to save us from a truly disastrous fate. Only one man can save the world from the horrible ManBearPig…

…and that man is Al Gore:

[youtube](Click for video)

(In all seriousness, add another bullish, contrarian indicator to the growing list.)

Analysts at Their Least Bullish Levels Ever
Bespoke Investment Group
November 25, 2008

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