I have said multiple times, that we would see EUPHORIA at the peak of the Bubble Top.
This is an example of that – and it is going to get worse – as BTC soars into the last massive top.
But …. this kind of talk – is EXACTLY what you hear into massive tops. Based on nothing! https://t.co/bPcicXXEIO
— Henrik Zeberg (@HenrikZeberg) October 19, 2025
And if you believe in this …. I got an Eiffel Tower, than I can sell you…. 😉 https://t.co/7ri2b5sLyn
— Henrik Zeberg (@HenrikZeberg) October 19, 2025
This is so stupid – I don't even have words. https://t.co/iCKOuXDN0I
— Henrik Zeberg (@HenrikZeberg) October 19, 2025
Institutional investors are all-in on stocks:
Global managers’ cash allocation fell to 3.8% in October, the lowest in 12 years.
Cash has stayed at or below 4% of AUM for the 4th consecutive month.
Since 1999, there have been only a few instances when cash levels were this low.
Meanwhile, 45% of managers said they are net overweight global stocks, the most since January 2025.
At the same time, a record net 60% responded that global stocks are overvalued, 20 percentage points above the level seen during the 2000 Dot-Com Bubble.
Institutional investors are heavily exposed to equities.
Institutional investors are all-in on stocks:
Global managers’ cash allocation fell to 3.8% in October, the lowest in 12 years.
Cash has stayed at or below 4% of AUM for the 4th consecutive month.
Since 1999, there have been only a few instances when cash levels were this… pic.twitter.com/XY4clCPK1E
— The Kobeissi Letter (@KobeissiLetter) October 18, 2025