Institutional investors are buying more stocks than ever and yet they have turned more bullish on gold than the Magnificent 7, according to Bank of America’s October fund manager survey. Forty-three percent of respondents ranked “long gold” as the most crowded trade this month, ahead of the 39 percent for “long Magnificent 7.” That’s flipped since September, when 42 percent of respondents said “long Magnificent 7” was the most crowded trade and just 25 percent said the same for “long gold.” For context, over the last four weeks: • Gold: +14.3 percent • Magnificent 7: -0.50 percent No wonder the latest round of fund ... (full story)