Merrill Lynch Just Made an Almost $1 Billion Bet on Value Over GrowthBy
The $23 billion Vanguard Growth ETF recently had a very bad day, thanks to Merrill Lynch Wealth Management. Investors pulled more than $900 million from the exchange-traded fund on Jan. 24, the biggest daily outflow in its 13-year history. Merrill rebalanced some of its holdings from growth to value, according to people familiar with the matter. The move is part of an increasingly popular bet that rising inflation expectations and the Trump administration’s potential pro-growth policies will lead to a continued rebound in value stocks.
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