Smart Money

Insider Stock Buying Drops To Lowest Level In Five Years

“The best-informed market participants seem unenthusiastic about U.S. stocks at current prices,” said David Santschi, chief executive officer at TrimTabs.  “Insider buying is running at the slowest pace for October in the past five years.”

Hedge Fund Managers Expect "Massive" Pay Cut In 2016

Portfolio managers at hedge funds, facing an exodus of investors frustrated with high fees, are about to feel the pain from an estimated 34 percent reduction in their compensation. “2016 should prove to be a belt-tightening year. This pessimistic viewpoint is justified, given the poor industry performance.”

Citi Trader: "I Almost Feel Stupid Being Bearish "

"I almost feel stupid being bearish given it has been such an incredibly popular and incredibly losing strategy for so long and there have been so many false starts over the past few years."

Just 3 Things

Record levels denote the point that previously marked the end of a cycle, not the beginning of a new one. This point is often missed by the mainstream media. Record highs of anything, whether it is economic, fundamental or financial data, are warnings signs of late stage events.