The Gold IRA Company

CNBC: Record Percentage of Investors Say Stocks are Overvalued, According to Bank of America Survey

Article by John Melloy in CNBCfinancial

A record percentage of money managers believe the stock market is “overvalued,” according to the Bank of America Global Fund Manager Survey, one of the longest-running and widely followed polls of Wall Street investors.

78% of investors say the market is overpriced, the highest percentage since the survey began in 1998 and exceeding the levels when the dot-com bubble burst in 1999-2000.

Bank of America surveyed 212 mutual fund, hedge fund and pension fund managers with $598 billion under management.

Here are some of the key findings, conducted during the week that ended Thursday:

• Some 53% say the comeback from the March lows is a “bear market rally.” Just 37% believe it’s a new bull market.
• Only 18% expect a V-shaped economic recovery from the coronavirus. Most expect a U- or W-shaped recovery.
• Investors took cash levels down from 5.7% to 4.7% since last month, the biggest “dash from cash” since 2009.

The top “tail risk” investors fear is …

To read this article in its entirety, click here.

Have Questions?

Speak with a Gold & Silver Specialist.
Call Now: 855-554-4853

CALL TODAY!

Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.