JPMORGAN: Beware of overcrowding in markets where 'everyone holds the same position'

There doesn't appear to be much room for originality in the global market landscape.
Through conversations with portfolio managers, JPMorgan has found that investors are piling into the same positions. And it's created a tenuous situation.
"This creates a problem as it limits upside with everyone having bought already, and raises downside if we all try to get out the door at the same time," Jan Loeys, the head of asset allocation and alternative investments at JPMorgan, wrote in a client note.
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