A very interesting chart/analysis from the folks over at J. Lyons Fund Management. Over 62% of Investors see the market rising further over the next year. Additionally, more than 10% of respondents believe there is a 100% probability the market will rise over the next 12-months.
Expectations have been this high only two other times since 2002. As you can see in the chart below, subsequent returns were a little rocky.
Will this time be different?