(SPX, $SPY, $TLT, $IEF) Global fund managers are bullish on stocks for the third quarter, as the turmoil in financial markets offers investors “attractive buying opportunities,” according to an HSBC survey.
A survey of 12 investment companies overseeing $4.4 trillion in funds showed 63 percent are holding “overweight” positions on equities this quarter, up from 44 percent in the previous three months, HSBC said in a statement today. Some 57 percent of fund managers are “underweight” bonds in the third quarter, compared with 38 percent in the previous period.
I believe this is bad for stocks and good for bonds from a contrarian point of view. If everybody has bought an asset class, then there is no one left to buy.
A survey of 12 investment companies overseeing $4.4 trillion in funds showed 63 percent are holding “overweight” positions on equities this quarter, up from 44 percent in the previous three months, HSBC said in a statement today. Some 57 percent of fund managers are “underweight” bonds in the third quarter, compared with 38 percent in the previous period.
I believe this is bad for stocks and good for bonds from a contrarian point of view. If everybody has bought an asset class, then there is no one left to buy.
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