FYI: A rally in stocks has triggered unusual circumstances for some of Wall Street’s biggest investors—they are holding many of the same companies.
A list of the market’s most crowded trades includes Mastercard Inc., MA 0.97% Microsoft Corp. MSFT 0.82% , Amazon.com Inc., AMZN -1.56% Abbott Laboratories ABT -0.28% and PayPal Holdings Inc., PYPL 0.32% according to analysts at Bernstein, who tracked institutional ownership, price momentum, earnings forecasts and valuations.
The overlap in the top 50 stockholdings between mutual funds and hedge funds—two types of investors whose styles typically differ—now stands at near-record levels, a study by Bank of America Merrill Lynch found.
Regards,
Ted
https://www.wsj.com/articles/with-stocks-at-fresh-highs-investors-portfolios-look-alike-11564306201
