Research Watch

The die-hard bear, back to the 80s, hedge funds get full, no cheap buys, Dow 36,000, and the Forbes billionaires list.

As bulls gorge on market gains, one bear refuses to die—Dylan Grice is back with his first note for his new firm, and he’s found plenty of misery to feed on. Central bankers are devaluing society, he argues, and the rising risk of war is something he is increasingly worried about. There’s no shortage of optimists to balance that view, though: hedge funds are now fully invested, Richard Bernstein thinks we’re in a 1980s-style raging bull market—even Richard Russell is advising his readers to buy. So strong is the rally that the author of the spectacularly wrong ‘Dow 36,000’ seems comfortable repeating that prediction, and The Economist is almost defending it. Also this week, what’s cheap, the importance of recession forecasting and, on video, Forbes introduces the top 10 richest people in the world.

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