For the first time in two decades, a warning light on Wall Street is flashing bright blue. The Bank of America (BofA) Global Fund Manager Survey, as reported by Fortune and Hedge Fund Tips, shows something markets haven't seen since August 2005: a majority of fund managers now believe companies are overinvesting. The line, which has stayed below zero for most of the past 20 years, suddenly shoots upward in November 2025, hitting a net 20%. How Did That Happen?The sharp jump reflects one thing: the AI spendi ...