Bank of America survey revealed that buying gold is the most crowded trade.

According to Bank of America's global fund manager survey in February, buying gold has become the most crowded trade for the second consecutive month. 50% of fund managers in the survey said that going long on gold was the most crowded trade in February, slightly lower than the 51% reported in January. At the same time, 20% of fund managers said that buying the largest US tech stocks - Nvidia, Alphabet, Apple, Amazon, Microsoft, Meta, and Tesla - was the most crowded trade.