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Animal Spirits Podcast

Who Owns the Stock Market? (EP.366)

Jun 26, 2024
The podcast discusses the difference between bull and bear markets, Gen Z's interest in the stock market, spending habits on concerts and groceries, Fed's role in the housing market, and amusing topics like honking horns while driving.
53:46

Podcast summary created with Snipd AI

Quick takeaways

  • Institutional investors show hesitance to increase equity exposure, while global fund managers express bullish sentiment towards stocks.
  • Preference for private credit over stocks among institutional investors, despite concerns over the credit cycle entering a later stage.

Deep dives

Low Appetite for Equity Exposure

There is a lack of risk appetite for fresh capital into equities as institutional investors show hesitance to increase equity exposure over the coming weeks, plummeting to just 17%. However, simultaneously, there is a bullish sentiment among global fund managers, with the majority expressing positivity towards stocks, marking the highest sentiment since November 2021. Despite contrasting views, the flow record for the Vanguard S&P 500 ETF (VO), which is close to surpassing the all-time annual flow record at $44.5 billion, indicates strong investor interest.

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