Money Mangers bullish

I recently wrote about how Simon Brewer feels US stocks are overvalued, but it certainly seems that he is in a minority. A new Russel Survey reveals that most money magers feel US stocks are fairly valued and many feel they are undervalued. However there are declines in attitudes toward growth stocks and certain sectors:

Health care remained the most favored sector, with net bullish sentiment at 47%. However, this sentiment declined quarter-on-quarter by 24%. Similarly, net bullish sentiment declined in other growth sectors such as technology (declined 28%) and consumer discretionary (declined 21%).

Interest-sensitive sectors saw an improvement in sentiment: the quarter-on-quarter net bullish outlook for financial services improved by 41% and utilities improved by 33%.

Also worth noting is that large caps are viewed more positively than small caps (some fear small caps are overvalued).

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