Technology has become most crowded trade ever, the 'longest long of all-time,' according to a BofA survey

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Technology has become most crowded trade ever, according to a BofA survey

The 71% of the managers who say stocks are overvalued, however, is below a recent reading of near 80%.

Fund managers have raised their cash level to 4.9% from the survey average of 4.7% , as investors say they are cautious on the virus, the macro picture and the U.S. election. A second wave of Covid-19 is seen as the biggest risk to markets by 52%.

 

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