‘Fear of missing out’ triggers huge fund manager shift from cash to stocks, Bank of America Merrill Lynch says

A “fear of missing out” triggered a huge switch by fund managers from cash into stocks, according to a survey conducted by Bank of America Merrill Lynch released on Tuesday.

The allocation to global equities climbed 20 percentage points month on month to net 21% overweight, the highest level in one year. “Investors are experiencing Fomo—the fear of missing out—which has prompted a wave of optimism and jump in exposure to equities and cyclicals,” said Michael Hartnett, chief investment strategist at BAML.

The Dow Jones Industrial Average DJIA, +0.04% on Monday registered its ninth record high of the year, and is up nearly 7% over three months.

Blame the evil twins: FOMO and TINA!

the crowd pushes the last phase of the bubble

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New Credit Suisse investment-bank chief needs axeDavid Miller is taking over from James Amine, who helped run the unit for a decade. His top priority is to stop losing market share in key businesses like advising on deals. However, costs also look high, despite recent restructuring. There’s an argument for more cuts.
Source: Breakingviews - 🏆 470. / 51 Read more »