EDITORIAL: Right now, it’s sensible to be bearish on cash

The latest survey of local fund managers by Bank of America Securities certainly gives a mixed picture. Bank of America Securities is better known in SA as as Merrill Lynch, its name before the corporate dealing that emerged from the debris of the global financial crisis.

The survey revealed that the proportion of investors bearish on cash was the highest since 2003, when the global economy was rebounding from a recession. This might be seen as a positive signal that the people whose job it is to allocate savings are seeing enough of an improvement to put that money to work. ..

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