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.
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 http://www.youtube.com/watch?v=xf69EEL3WBk&hl=en&fs=1](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