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1.Market Observations, 2.Strategy, 8.Was Sticky

20 July 2017 (TheAge) – BAML fund manager survey shows tech stocks off, US overvalued

(20 July 2017, The Age, BusinessDay, p25, Jessica Sier)

‘They might be the most exciting companies in the world, but a majority of fund managers sold out of global internet stocks in July, saying they are too expensive and US equities are broadly overvalued. A survey of 179 fund managers, with an accumulated $US525 billion assets under management, found that allocations to tech stocks fell to 28 per cent overweight, down from 37 per cent overweight a month ago, while allocations to banks rose to 29 per cent overweight, from 23 per cent last month.’



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