Tech Euphoria Fades as BofA Finds Lowest Allocations Since 2014
- Almost as many fund mgrs worried about FAANG trade as bitcoin
- Caution comes after best global market performance this year
The Tech Stocks to Keep an Eye on in 2018
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It seems investors are getting more worried about being bitten by the FAANGs.
Allocations to technology stocks fell to 24 percent overweight, the long-term average, according to the latest Bank of America Merrill Lynch survey of fund managers overseeing $558 billion of assets. The reading is the lowest “z-score” for the sector, a measure of extreme positioning, in three and-a-half years.