Buy American, buy safety and buy yield: Those are three powerful upside drivers for utility stocks this spring, as major sector averages have made one new high after another.
Investors who choose to run with the bulls now, however, should have an extra ounce of caution. Not only are utility stock valuations at levels we haven’t seen since late 2000.
But as I point out in the Feature article, much of the buying power behind the rise doesn’t actually stem from decisions made by individual investors or even money managers. It’s the result of buy signals for algorithms that control vast and growing pools of “passively managed” money.
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