Record Number of Fund Managers Say U.S. Equities Are Overvalued
- Valuations are looking increasingly stretched in the U.S.
- Fund managers now prefer emerging markets and the eurozone
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Measures of stock valuation have been flashing caution for months. Humans are finally starting to take notice.
Fund managers now say stocks are the most overvalued they have been in nearly 20 years, according to a survey done last week by Bank of America Merrill Lynch.