Bulls beware — BofA Fund Manager Survey flashing contrarian sell signal

The monthly Global Fund Manager Survey from Bank of America has been widely followed for years on Wall Street for its ability to suggest sentiment extremes that often precede sizable market reversals. Indeed, the latest report released Tuesday shows professional investor sentiment is running at its hottest level in years. Among the key data points are fund managers' cash levels — they've dropped to just 3.3%, the lowest in the history of the survey, a clear signal that professional investors are leaning h ...