CHART OF THE DAY: Hedge Funds Haven’t Been This Invested In Stocks Since 2006

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One chart really jumped out of BofA Merrill Lynch’s latest global fund manager survey.

According to BofA Chief Investment Strategist Michael Hartnett, “Hedge fund net exposure to equities jumped to its highest level since August 2006 (net 45%).”

chart of the day, bofa hedge fund survey equity exposure, december 2012

Hartnett also says that “More broadly, the percentage of investors who say they are taking higher-than-normal risk in their portfolio is now highest since April 2011.”

BofA investor risk appetite

 These numbers have been rising steadily throughout 2012, as we noted in November.