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Crowded tech

Jason Goepfert
2020-12-15

One other point to make about the monthly Bank of America fund manager survey. Once again this month, they consider "tech" to be the most crowded trade.

We looked at this extensively in September. To reiterate, the table shows your return (roughly) if you bet AGAINST the most crowded trade. It was mostly unsuccessful. In other words, the most crowded trade had a modest tendency to keep getting more crowded.

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