Buypolar: Latest Wall Street Survey Finds Record Number Say AI Is A Bubble, As They Pile Into Stocks

While regular readers are well aware that our views on the monthly Bank of America Fund Managers Survey are that it is a noisy, useless echo chamber devoid of any signal, in which respondents say whatever they think they should (so as not to offend someone?), not what they actually believe or do, and is therefore at best a contrarian indicator to be faded, the October Fund Manager Survey which was conducted between Oct 3 and 9 was especially useless as it took place right before the violent sentiment reversal last Friday, Oct 10, when with one social media post, Trump sparked trillions in losses (which were then promptly recovered over the weekend amid another follow up de-escalatory post).

So having discussed how especially useless this particular FMS is, here is what survey organizer Michael Hartnett found after he polled the 193 panelists who somehow manage $468 billion in (echo chambered) funds.