BlackRock says the risks of higher taxes and tighter regulation have dented the appeal of U.S. stocks.
Even more fund managers in a recent survey now view Bitcoin in a bubble.
After a record flood of money into equity funds, BofA strategists have warned that such exuberance may precede a correction.
Stock funds had inflows of $58 billion in the week through Feb. 10, led by U.S. equities and the tech sector.
The Bank of America investors join a growing chorus calling Bitcoin overheated, manipulated, or both.
Passive vehicles and exchange-traded products have been steadily stealing market share from mutual and hedge funds.
Such a balanced approach will earn 4.2%, down from 5.4%, in coming years.
The rotation into cheaper value shares can also drive gains in European stocks relative to the U.S.
The firm's strategists slashed to neutral the sector that has driven the recovery rally since March.
Morgan Stanley’s expectation is that the election will be decided by the Thanksgiving holiday on Nov. 26.
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