Investors Pile Into Stocks as Risk Appetite Jumps, Merrill Says

Money managers jumped back into equities this month and reduced their holdings of cash as risk appetite returned to levels not seen since the last bull market, a Merrill Lynch & Co. survey showed.

Respondents, who together manage $554 billion, increased their holdings in global equities as optimism on economic growth and corporate earnings rose to the highest level in more than five years.

The MSCI World Index, a gauge of 23 developed nations, has rebounded 51 percent since March 9 as companies from Goldman Sachs Group Inc. to Intel Corp. reported better-than-expected earnings. The Organization of Economic Cooperation and Development said today that the economies of its 30 members collectively stopped shrinking in the second quarter as Japan joined France and Germany in exiting recession.

Read Full Article from Bloomberg

- Posted: 2009-08-19 10:07:32

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