Fund managers are all-in right now.
BofA survey of 180 managers ($525B AUM) shows investor sentiment hit 8.0 in August — 3rd highest since 2022.
Cash levels dropped to 3.5%, near the lowest in 26 years. 56% are overweight equities, the most since Nov 2021. That's 14 straight months of bullish positioning.
37% expect double-digit earnings growth in the next year — highest since Aug 2021.
Everyone's leaning the same way. When consensus gets this crowded, it's worth watching what happens when something breaks the pattern.
BofA survey of 180 managers ($525B AUM) shows investor sentiment hit 8.0 in August — 3rd highest since 2022.
Cash levels dropped to 3.5%, near the lowest in 26 years. 56% are overweight equities, the most since Nov 2021. That's 14 straight months of bullish positioning.
37% expect double-digit earnings growth in the next year — highest since Aug 2021.
Everyone's leaning the same way. When consensus gets this crowded, it's worth watching what happens when something breaks the pattern.
