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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (83297)	8/25/2000 10:35:41 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 132070

Heinz: Thoughts on VIX and sentiment from THE CONTRARY INVESTOR. Our old friend the VIX index (OEX Volatility) is suggesting some pretty serious complacency on the part of investors at the current time. Put premiums have shrunk pretty dramatically over the past month or so. Over the last few years, readings as low as the current one on the VIX have roughly coincided with the approximate beginnings of market sell-offs. The VIX is near its lows for the year that were put in over the last week. Have investors already priced in a soft landing the end of the Fed tightening cycle, continued economic growth and sustainable low inflation? The VIX seems to suggest as much. Ed Hyman of ISI recently noted that his most current poll of institutional equity investors showed the highest bullish readings EVER and the most fully invested positions EVER . That's right, EVER. Does it get any better than this?