contrarian

Hoisington, a highly respected if idiosyncratic bond-fund manager based in Austin, Texas, is among the few taking the bold contrarian move of owning longer-term Treasury bonds instead of the less volatile short-term bonds.

This investor behavior is bearish, because willingness to buy market dips is a contrarian indicator: Market tops typically occur when investors treat dips as buying opportunities, according to contrarian theory.

Hartnett’s team is aware their call on gold is far from unique, “contrarian it ain’t” as long gold is the most crowded trade in Bank of America’s fund management survey for October.

“Investors continue to show low conviction around equities, which I view as a contrarian positive. If conviction wavers easily, then this is a sign that sentiment is not ebullient, ” Lee says.

But Tellis in recent years has emerged as a leading contrarian in Washington about India, saying that New Delhi's interests were not aligned on a host of issues including Ukraine.