Raymond James Financial Inc.: Thats the question on a lot of peoples minds these days, and its not an easy one to answer. Almost half the investment professionals surveyed by Bloomberg last week said the equity market is close to unsustainable levels. Bold-faced pundits from Jeffrey Saut at Raymond James Financial Inc. to Leuthold Group Llcs Doug Ramsey and Tony Dwyer at Canaccord Genuity Group Inc. have called for near-term weakness in stocks, according to Business Week. The top story on Bloomberg.com on Oct. 9, 2007, hints at an economic tragedy still in the first act: Northern Rock Plc, the U.K. mortgage lender bailed out last month by the Bank of England, said the government will guarantee deposits until financial markets become less volatile. The shares rose the most ever and What does a market top look like? So on a sunny Friday in July, a perfectly reasonable activity for investors not to mention columnists low on ideas is to hop aboard a time machine and travel back to the last major market peak and see if the pundits were warning of impending doom. The Internet Archives Wayback Machine allows you to do just that, so buckle up!
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Tagged under Bloomberg, Jeffrey Saut topics.