Individuals rush in just as pros think the bull is spent

[NEW YORK] Main Street and Wall Street are moving in opposite directions. Individual investors are ploughing money back into the US stock market just as professional strategists say gains for this year are over. About US$100 billion has been added to equity mutual funds and exchange-traded funds in the past year, 10 times more than the previous 12 months, according to data compiled by Bloomberg and the Investment Company Institute.

The growing optimism contrasts with forecasters from UBS to HSBC Holdings, who say the stock market will be stagnant with valuations at a four-year high. While the strategists have a mixed record of being right, history shows the bull market has already lasted longer...

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