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Investors' Risk-Taking Hits All-Time High - BofAML Survey

Published 16/11/2017, 13:27
Updated 16/11/2017, 13:27
© Reuters.

© Reuters.

Investing.com - Investors are increasingly showing signs of “irrational exuberance”, even as they worry equities markets have become overvalued, according to a survey by Bank of America (NYSE:BAC) Merrill Lynch.
According to BAML's monthly Fund Manager survey, a record 48% of investors said equities were “overvalued” but also found that a record 16% of respondents took on higher-than-usual levels of risk during the past month.
BAML described that as a sign of “irrational exuberance” among investors.
Meanwhile, a record high 56% of investors surveyed have bet on a “Goldilocks” scenario in the coming months, defined as high growth with low inflation that should continue to support global equity prices.
But tech stocks remain a concern with 34% saying for the sixth time this year that a long position in the Nasdaq is November's most-crowded trade.
The consequences of the Federal Reserve reducing its balance sheet and the European Central Bank tapering its bond buying in 2018 prompted a mixed reaction among investors.
42% thought the impact would be bearish, while 35% said it would likely be bullish.

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