World’s Top Investors “Ring Alarm” At All Time Market Highs
by Tyler Durden
ZeroHedge.com
Jul 15, 2016
First it was bond gurus Bill Gross and Jeff Gundlach; then yesterday equity titan, Blackrock’s Larry Fink joined in; now add Oaktree’s Howard Marks. As Bloomberg puts it, the big rally in stocks and bonds has some of the world’s top money managers “ringing the alarm” just as the S&P hits all time highs day after day after day.
The aftermath of the global yield collapse sparked an unprecedented surge into all dividend paying stocks, the result of a scramble by investors to “put their money somewhere, anywhere, amid low interest rates.” That susbequently morphed into the biggest 10-day short squeeze in history, which has since unleashed a buying spree of all stocks, unlike anything seen in years, as BofA reported overnight:
Monday (7/11) saw the largest HY inflows on record ($2.1bn – Chart 1), the largest equity ETF inflows since Dec’15 ($6.4bn) and the largest bank loan inflows in almost 3 years ($0.4bn)…the day when bears capitulated into risk assets
The Rest…HERE
