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Home Latest Technology

The market’s biggest investors are ‘paranoid’ that being long US tech stocks is now the ‘most crowded trade of all time,’ BofA says

Kizatrends by Kizatrends
Sep 16, 2020
in Latest Technology
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The market’s biggest investors are ‘paranoid’ that being long US tech stocks is now the ‘most crowded trade of all time,’ BofA says
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Trader Peter Tuchman works on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)
Dealer Peter Tuchman works on the ground of the New York Inventory Change Monday, March 16, 2020. (AP Photograph/Craig Ruttle)

Related Press

  • In accordance with a fund supervisor survey conduced  by Financial institution of America, traders are “paranoid” that lengthy US tech shares is the “most crowded commerce of all time,” citing 80% of survey respondents.
  • Amid excessive tech focus in standard inventory market indexes just like the Nasdaq 100 and the S&P 500, the second hottest response to tail-risks for the market is “tech bubble.”
  • Nonetheless, a majority of traders say “It is a bull market,” the survey stated.
  • Listed below are extra insights from the Financial institution of America September fund supervisor survey.
  • Visit Business Insider’s homepage for more stories.

Financial institution of America’s September fund supervisor survey of 199 contributors who handle $601 billion in property is in, and one sticking level appears to be know-how shares.

In accordance with the survey, traders are “paranoid tech,” with 80% of respondents saying it’s “essentially the most crowded commerce” ever available in the market.

And amid excessive tech focus in standard inventory market indexes just like the Nasdaq 100 and the S&P 500, 22% of traders stated they concern that the most important “tail danger” for the market is a tech bubble, solely behind 30% of respondents saying a second wave of COVID-19 is the most important danger.

Simply 10 shares within the S&P 500 accounted for greater than 50% of August’s 7.2% return, BofA highlighted in a notice final week. The highest 5 shares chargeable for these returns had been Apple, Microsoft, Amazon, Facebook, and Salesforce.

BofA research.JPG

BofA International Analysis

Regardless of the heightened fear about tech and its sheer measurement as a share of the general market, a majority of traders say we are actually in a brand new bull market. Fifty-eight p.c stated “It is a bull market,” a stable improve from final month’s studying of 46% for a similar query.

Learn Extra: Morgan Stanley pinpoints the most attractive opportunity it sees for investors as a new bull run takes shape – and shares 3 strategies for generating market-beating returns

In the meantime, 29% of survey respondents stated they consider the market is experiencing a “bear market rally,” marking a gradual decline from final month’s studying of 35%. 

Technically, the inventory market is in a brand new bull market provided that the S&P 500, Nasdaq 100, and Dow Jones industrial common all made recent report highs after falling greater than 20%.

Alongside the identical strains of whether or not it is a bull market or a bear market rally, extra survey respondents now consider the financial system is experiencing a U-shaped restoration relative to final month’s survey, in response to Financial institution of America.

On the macro aspect, 84% of respondents anticipate increased world progress, and 40% anticipate the worldwide financial system to get “quite a bit stronger,” which is the upper studying ever, in response to Financial institution of America.

Regardless of the bullish sentiment amongst survey respondents, money ranges rose in August from 4.6% to 4.8%, slightly below BofA’s “concern” studying of money ranges surpassing the 5% threshold. 



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