A record net 78% of investors said that the stock market is overvalued, according to Bank of America's June Fund Manager Survey, released Tuesday. It's the highest number of investors to say stocks are too expensive in the survey's history, from 1998. While Wall Street might be past "peak pessimism," June optimism remains "fragile, neurotic, nowhere near dangerously bullish," wrote BofA's Chief Investment Strategist Michael Hartnett and investment strategist Shirley Wu in the survey. Read more on Business Insider. A record number of investors think that the stock market is "overvalued," according to Bank of America's June Fund Manager survey.