Overly Optimistic Consensus Plays Greater Fools' Game Once Again

" The crowd is often right except at market turns. After the turn, the crowd tends to hold on until most previous gains vanish. In a secular bull market, such optimism works out acceptably well. In a secular bear market, rampant optimism is severely punished. David Rosenberg is discussing the overly-optimistic consensus in a Special Report: A “V”-Shaped Recovery. "