Silver Rises Over 120% YTD 
Bank of America’s recent poll shows investor sentiment has reached its most negative point in 30 years, with an overwhelming 82% of fund managers expecting weakening conditions.
This pessimism has caused a dramatic shift in investment strategy. Fund managers have rapidly moved away from US stocks, swinging from a 17% overweight position in February to a 36% underweight position in April—the most significant two-month change ever recorded.
Despite this gloomy outlook, BofA strategists note that “peak fear” isn’t yet reflected in portfolio allocations. Cash holdings stand at 4.8%, below the typical 6% seen during maximum bearish sentiment.
The survey included 164 participants managing $386 billion in assets and was conducted April 4-10.
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