Warren Buffett
Warren Buffett
  • Funds tracking the S&P 500 index are still overcrowded, according to Bank of America's Savita Subramanian. 
  • She told CNBC on Monday that investors should go long on small-cap value stocks. 
  • "We're at a good point right now where the small-cap value benchmark is at record cheapness versus large-cap," she said.

The S&P 500 remains overcrowded, and investors should look beyond funds that track the broad market index, according to Bank of America's Savita Subramanian. 

Legendary billionaire Warren Buffet has often preached that average retail investors should buy and hold an index fund tracking the S&P 500.