The bulls, bears, and everything in between Investor Sentiment: Risk-Love Optimistic, not euphoric Climbing the wall of worry Global Equity Risk-Love, which derives two-thirds of its underlying factors from Developed Markets (DM) and one-thirds from Emerging Markets (EM), continues to climb higher in the neutral zone. It is currently stationed at the 76th percentile of its history since 1987 – a reading consistent with Michael Hartnett's gauge of global cross asset risk, the Bull & Bear Indicator (see note) ...