The bottom somewhere around here?
"It comes as the Bank of America releases its monthly survey of global fund managers - which found that funds were in "full capitulation", with equity allocations falling to levels last seen in the 2008 Global Financial Crisis.
The survey also indicated that BofA's "Bull/Bear" indicator had reached "max bearish". Meanwhile, it also found that average uninvested cash levels have risen to above 6% - the highest in two decades. In addition, in a recent note, Bell Potter's Richard "Coppo" Coppleson said that US equity funds are currently sitting on a cash pile of $209 billion (see below). Anecdotally, I recently saw an Aussie-based fund with a cash allocation of 50%. "
https://www.livewiremarkets.com/wire...-of-the-bottom