Professional Investors Have Got This Wrong For An Entire Decade

This is a great chart from a BAML investor survey, posted to Twitter via @pawelmorski.

bonds survey

Photo: BAML

It shows the net per cent who think bonds are overvalued (blue line) vs. the net per cent who think equities are overvalued (black line).

For a decade now, investors have been hating bonds, which has been exactly the wrong stance to have, since bonds have had a blistering decade, and stocks have languished.

And of course we’re still hearing this now. Folks like Larry Fink, Warren Buffett, and Jeremy Grantham can’t express how much they hate bonds with their paltry returns. Just realise that pro investors have been saying this for 10 years.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.