Summary: Overall, fund managers’ asset allocations in August provide conflicting views on sentiment.On the one hand, fund managers’ cash remains at the highest levels since the 2011 and 2012 equity lows and the panic in 2008-09. This is normally contrarian bullish.However, allocations to equities rose over the past two months and are above the mean. Cash levels are high because […]
Bill Pugliano/GettyWarren BuffettThe Oracle of Omaha is facing some opposition.In a note to clients on Monday, Bank of America Merrill Lynch’s Savita Subramanian wrote that Warren Buffett’s favorite metric of long-term value “may have limited utility.”The market cap to GDP ratio, which once characterized as the “single best measure” of value, is used to determine whether the stock market is […]
Summary: Overall, fund managers’ asset allocations in July provide a confused view.On the one hand, fund managers raised cash to a 6 1/2 year high. It hasn’t been this high since the height of panic in late 2008. This is normally contrarian bullish.Note, however, that allocations to equities rose over the past month. Most of the rise in cash came […]
Summary: Overall, fund managers’ asset allocations in June provide a confused view.On the one hand, fund managers raised cash to a 6-month high and reduced their global equity exposure to an 8-month low. Relative to recent history, this is contrarian bullish.Note, however, that most of the fall in their equity allocations came from further reducing emerging markets exposure; allocations to […]
Akin Oyedele
May 8, 2015, 10:11 AM
9,100
The big disconnect in the US stock market just keeps getting bigger.A new Bank of America Merrill Lynch survey published Thursday finds that US investors have pulled $99 billion out of equities year-to-date — including net outflows in 11 of the past 12 weeks — despite stock prices continuing to break record highs.This week also […]
Every month, we review the latest BAML survey of global fund managers. Among the various ways of measuring investor sentiment, this is one of the better ones as the results reflect how managers are allocated in various asset classes. These managers oversee a combined $600b in assets.The data should be viewed mostly from a contrarian perspective; that is, when equities […]
Every month, we review the latest BAML survey of global fund managers. Among the various ways of measuring investor sentiment, this is one of the better ones as the results reflect how managers are allocated in various asset classes. These managers oversee a combined $700b in assets.The data should be viewed mostly from a contrarian perspective; that is, when equities […]
