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Record number of investors say stock markets are in a bubble

Bank of America Merrill Lynch's latest fund manager poll finds investors are continuing to invest in equities, despite their price concerns

Record number of investors say stock markets are in a bubble

Almost half of investors in equity markets think they are too expensive, according to a monthly survey of fund managers, but these "exuberant" asset allocators are continuing to put money into stocks.

A record 48% of investors said equities are overvalued, Bank of America Merrill Lynch's November Fund Manager Survey found, but despite these concerns, some 49% still have an allocation to global stocks that is higher than their benchmark would normally dictate.

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