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With Complacency At 20 Year Highs, JPM Models Warn Of Imminent Correction

With Complacency At 20 Year Highs, JPM Models Warn Of Imminent Correction
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First it was Citi, then Goldman, then BofA, and now it is JPMorgan’s turn to warn that amid unprecedented, off-the-charts euphoria, which Citi literally needed a bigger chart to show last week

… cross-asset complacency has hit a 20 year high (i.e., the last time we were here, pets.com was the hottest thing on CNBC).

In a Feb 11 note from JPM’s head of cross-asset strategy, John Normand, he writes that the bank’s index of cross-asset complacency based on valuations, positioning and price momentum is just shy of the the highest level since the time the dot-com bubble burst (and when, as Bloomberg adds “some companies found out burning cash faster than they made it wasn’t quite effective as a long-term survival strategy”)…

To read more visit Zero Hedge.

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