Streetwise: The Market's 'Fear Gauge' Is More of a Tranquility Index Right Now

If the Vix could sing it would be humming along to a laid-back reggae tune, sipping a cool margarita and relaxing by the beach. The market’s “fear gauge” is pointing to no fear at all, a reason for contrarians—myself included—to worry that investors are no longer climbing the wall of worry. Once complacency sets in, the slide down the slope of hope can’t be far away.