As professional fund managers are holding the highest level of cash since the 2008 Lehman bankruptcy, a Bank of America Merrill Lynch survey points to a “Trojan Lehman,” indicating the high cash levels could be a contrarian buy signal and the current economic situation is “a complete contrast to 2008.” BAML: Gold has reached “under-valuation” as Fed moves down risk concern list As the bank’s Risk & Liquidity indicator falls to three years lows, gold has reached its first “under-valuation” reading since August of 2009 and investors having shifted out of commodities and into bank stocks. In the firm’s Global Fund Manager…
BAML Survey Addresses "Trojan Lehman"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.