Yes..says Ray Soifer, a retired executive from Brown Brothers Harriman.
Ray Soifer calls it a “rather esoteric but nonetheless generally accurate” long-term indicator of the direction of stocks. According to the index, when Harvard graduates pile into Wall Street jobs, the market is probably overheated and could be heading for a tumble.
He devised a system for measuring market sell signals based on the plans on Harvard Business School grads.
By his metric, when 10% or less of a graduating class take Wall Street jobs, it’s a long-term buy signal. When 30% or more take market sensitive Wall Street jobs, it’s a big flashing sell signal.
Read more at New York Magazine
