- Joined
- Jan 20, 2015
- Messages
- 159
- Reaction Score
- 992
This is quite the reversal - the pros are chasing the new retail stock buying crowd:
Here come the pros, chasing the retail crowd — fund manager survey shows biggest exit from cash into stocks in more than a decade
The Bank of America monthly fund manager survey for June showed the biggest decline in cash balances since Aug. 2009, a drop to 4.7% from 5.7%.www.marketwatch.com
"A net 78% say the stock market is “overvalued,” the most since 1998."
Put me in this camp. Just sold off a bunch of stock this morning to get to 50% cash in my portfolio. I've been lucky and managed to stay ahead of the market for far too long – the law of averages is a cruel mistress. The thought of trying to squeeze more toothpaste out of the tube when the world and its real-life economy are in such turmoil gives me hives.