{"id":6743,"date":"2017-03-03T00:10:01","date_gmt":"2017-03-03T00:10:01","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=6743"},"modified":"2017-03-03T00:10:01","modified_gmt":"2017-03-03T00:10:01","slug":"one-amazing-metric","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=6743","title":{"rendered":"One amazing metric&#8230;"},"content":{"rendered":"<blockquote class=\"wp-embedded-content\" data-secret=\"gdR81EzqbI\"><p><a href=\"https:\/\/www.bespokepremium.com\/think-big-blog\/bullish-sentiment-lower-what-else-is-new\/\">Bullish Sentiment Lower: What Else is New?<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Bullish Sentiment Lower: What Else is New?&#8221; &#8212; Bespoke Investment Group\" src=\"https:\/\/www.bespokepremium.com\/think-big-blog\/bullish-sentiment-lower-what-else-is-new\/embed\/#?secret=gdR81EzqbI\" data-secret=\"gdR81EzqbI\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The one still amazing metric about this bull market in the SP 500 is that &#8211; according to the American Association of Individual Investors (AAII), the percentage bullish within their survey base has remained under 50% for 113 straight weeks. (Source Bespoke, 3\/2\/17)<\/p>\n<p>That is the one metric about this bull market that &#8211; to me anyway &#8211; sticks out like a sore thumb.<\/p>\n<p>To be fair, there are other sentiment survey&#8217;s that reflect more bullishness and, the survey of news letter writers is now at very bullish levels. Maybe AAII data has lost its usefulness. I remember reading AAII newsletters in the mid 1980&#8217;s, so the survey and the organization has certainly stood the test of time.<\/p>\n<p>The other stat that is surprising is equity mutual fund inflows, which have only recently turned positive and had outflows in 2016, a year where the SP 500 returned 12%.<\/p>\n<p>The mutual fund slows could reflect the structural changes in the market, i.e. preferences for ETF&#8217;s over funds, etc. but the fact that almost 8 years into a bull market these metrics remain this depressed is quite striking.<\/p>\n<p>Just thinking out loud. Let me hear your counter-arguments.<\/p>\n<p>Thanks for reading.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bullish Sentiment Lower: What Else is New? The one still amazing metric about this bull market in the SP 500&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[150],"tags":[],"class_list":["post-6743","post","type-post","status-publish","format-standard","hentry","category-stock-market-sentiment"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/6743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6743"}],"version-history":[{"count":1,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/6743\/revisions"}],"predecessor-version":[{"id":6744,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/6743\/revisions\/6744"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}