Global fund managers:
- Overweight cash
- Equity allocations almost a standard deviation below avg
- Bond allocations at a 7 yr high
- View $USD as most overvalued in 16 yrs
New from The Fat Pitch
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Replies
@ukarlewitz
Bull market ended in Jan 2018 all over the world. If globalism has connected the world exponentially over the past 2 decades why would our market be the ONLY market to continue on while everything else remains 10,15,20+% off their highs?
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@ukarlewitz
As a reminder, lumber prices are a great leading indicator of future earnings. When lumber prices fall over a 12-month period, then EPS follows 6 months later. Although there is no immediate recession on the horizon, a market downturn is possible
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@ukarlewitz
I’m probably reading something wrong but shouldn’t it be “underweight” in the text for European Equities section?
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@ukarlewitz
Sure, but if we look at how they were positioned in September 2018, you can see they were more overweight cash than today (z=1.2 standard deviations in sept vs 1.0 today)
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@ukarlewitz
@theycallmetex
That means the buying power is staying on the sidelines and that means once the “conviction” kicks in they will push prices even higher
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