Six multi-billion buyouts in a week. Sign of a top?

Those who read the tea leaves would argue that six multi-billion buyouts in a week is a powerful suggestion of a broad market/economic top:

Last night, David Rosenberg pointed out something troubling:  we have just witnessed five multi-billion dollar deals this past week alone — $207 billion globally (AT&T/Time Warner; TD Ameritrade/Scottrade) in what has been the most active announcement list since 1999. We can now add another massive deal to the list: this morning Qualcomm announced it would buy NXP Semiconductors NV for about $47 billion, including debt, as it seeks to expand the reach of its chips from phones to cars. The equity value of the deal is $37.88 billion.

End of quote.

Count me amongst them.

Richard

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