Serenity, the 'white haired stock god': We should be cautious about the bearish tone of Bank of America, as a large amount of negative news may arise due to institutional liquidity needs BlockBeats news, on June 9, the "white haired stock god" Serenity sent a document saying that for those who currently cite the bearish view of Bank of America, it should be remembered that Bank of America once called EWY/KOSPI in March this year, that is, SK Hynix and Samsung related Korean memory chip stocks, in an extreme foam state. At that time, Bank of America attributed the rise to retail investors, suggesting that retail investors should sell Korean memory stocks, and compared it with the 2008 financial crisis, the Internet foam and the silver crash. Serenity stated that shortly after retail investors sold their long positions, storage chip stocks actually rose to a historic high. Serenity said, "Institutions are not your friends." It also stated that when an unusually large amount of negative news appears, it is usually because institutions need liquidity. Previously reported, Bank of America Securities stated that investors should remain cautious about the US stock market, as increasing bear market signals indicate that the market is approaching its peak. The strategist team led by Savita Subramanian wrote in a report dated June 5th that approximately 70% of bear market signals have been triggered, consistent with the average level of historical market peaks. Of the 20 valuation indicators of the S&P 500 index, 17 showed "statistical overvaluation", of which 8 indicators were even higher than the level during the technology foam. In addition, high P/E ratio stocks significantly outperform undervalued stocks, which strategists believe is a sign of "excessive speculation". Within the technology sector, the gap between the best and worst performing quintiles has widened to its highest level since February 2000. [Original link]