"Little more than nine months ago, share prices were staring into the abyss. The prevailing mood among fund managers had rarely been more bearish. We stood, it seemed, on the edge of a second Great Depression. Thankfully, this economic nemesis appears to have been avoided, thus far at least. Stock markets around the world have as a consequence staged one of the most remarkable rallies ever. Somewhat worryingly, given how bearish professional investors were when the market was down in the dumps, surveys show the predominant mood now to be overwhelmingly bullish."  Jeremy Warner, the Telegraph, January 2010.(Read Full Post)