Equity Mania Reaches Fever Pitch As Even Famed "Value Investors" Throw In The Towel On Shorts
Once upon a time, the chart below would have resulted in value investors loading up on short positions, or at the very least moving money to the sidelines, while poking fun at the 'momo' crowd for once again convincing themselves that "this time is different" as they chased equities ever higher.
Alas, as Bloomberg points out this morning, this time around it seems that even the most famed value investors, including Jeremy Grantham, have decided to throw in the towel on their bearish bets.