Fund Managers Think These Trades Are Most Crowded: Time to Exit?
In the previous part of this series, we saw that fund managers have turned more positive on equities in the United States. According to a BAML (Bank of America Merrill Lynch) survey in July, FAANG plus BAT was identified as the most crowded trade for the sixth consecutive month, cited by 53% of respondents. BAML also said that this was the most crowded trade since the long US dollar in 2015.