A Bank of America fund manager survey sheds some light on the current state of the market with news that managers are now at the most bearish they have been on global growth and equities in two years.
- 32% of FM’s expect the global economy to do better over the next 12 months (lowest for 2 years)
- 18% (32% prior) think that monetary policy is too stimulative (lowest since Aug 2012)
- 26% (19% prior) do not expect ECB QE
If the fundies are all so bearish then it’s likely they are behind the move in stocks and have already wrung their hands of many positions. All that leaves is us retail mob to jump on the same boat and go short just as it hits the bottom
