My colleague, Schaeffer's Quantitative Analyst Chris Prybal, noted recently that the percentage of bullish respondents in a weekly sentiment poll by the American Association of Individual Investors (AAII) has been below 50% for the past two years, or 104 straight weeks. We have data from this poll going back to 1987, and this is just the second time we've seen a streak like this. The last streak lasted from January 1993 until early 1995. Stocks were remarkable following this period, so it made me curious to compare that streak to the current streak, and to see if there's anything to streaks like this in general.
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