A Record Number of Investors Say Stocks Are Overvalued
- BAML survey shows investors skeptical of U.S. share valuations
- Fund managers say the Nasdaq is the most crowded trade
BlackRock Says Equities Rally Has Further to Run
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U.S. stocks are the most overvalued investment in the world. At least that’s what institutional investors say.
A record 44 percent of fund managers polled in a monthly survey from Bank of America Merrill Lynch see equities as overvalued, up from 37 percent last month. The technology-heavy Nasdaq Composite Index was named the most crowded trade, with 57 percent of investors saying Internet stocks are expensive and 18 percent calling them “bubble-like.’’