Worried about missing out?
Wall Street fund managers are nearly "fully invested" for the New Year!
A Bank of America survey shows that cash levels have plummeted to a historic low of 3.3%, while stock positions have been climbing, reflecting optimism about economic growth and the stock market.
Despite concerns about potential challenges in 2026, investor enthusiasm for buying has taken the lead.
However, it is worth noting that the S&P 500 valuation has exceeded the levels seen during the internet bubble, and excessive AI capital expenditures along with overly optimistic corporate profit expectations raise concerns. High valuations put significant pressure on the fundamentals. Investors need to be wary of the recession risks that may arise from a weakening U.S. labor market.
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