Wall Street's Top Permabull Suddenly Becomes Its Biggest Bear
![Wall Street's Top Permabull Suddenly Becomes Its Biggest Bear Wall Street's Top Permabull Suddenly Becomes Its Biggest Bear](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/90af272327e52416824da1f00825c627-500x333.jpg?itok=eVllmLxH)
In the past we had given Tom Lee of Fundstrat, formerly of JPMorgan, a hard time for his relentless, unforgiving permabullishness, which cost investors massive losses during the 2008 financial crisis, when the S&P500 closed some 40% below his target price of 1,450, but in retrospect had been proven right during this unprecedented monetary- and debt-fuelled rally, which has taken the S&P, and global debt, to never before seen levels (such as the Dow 19,999.63) where valuations are now more absurd than at any time in history.