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26th Sequential Week Of Outflows From Domestic Equity Mutual Funds
After last week's minimal outflow of "just" 218 million, Bob Pisani could already taste victory and preemptively claimed that there already were inflows into stock mutual funds. Luckily, today's ICI data puts an end to yet another piece of blatant CNBC propaganda. For the week ended October 27, ICI registered a $2.9 billion outflow from domestic equity mutual funds, making 26 straight weeks, or half a year, of neverending outflows. This brings the total to $84 billion. But fear not: now that the Fed will be buying $110 billion worth of stock via the Primary Dealers, courtesy of over 100 POMO operations over the next 8 months, it is more than clear who will be buying any and all stock in the stock market. In the meantime, the HFTs, the PDs, and Brian Sack will be riddled with so many hot potatoes they need to dump to idiot retailers (and good luck dumping that GM POS to retail investors), Wall Street will soon become the world's biggest potato farm.
Two thing are now clear: i) mutual funds will very soon run out of cash unless the Fed manages to keep asset prices rising higher than outflows can redeem capital, and ii) the Fed will never stop monetizing everything. After USTs, the deranged madman will buy MBS, then ETFs, then stocks, then Plasma TVs, then hookers, then lapdances, then toenail clippers, then toilet paper, then the most worthless thing of it all- dollars themselves, and then, finally, it will be all over.
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I am scared about my long gold positions here.
Why would Mr Nadler of Kitco be so bearish on gold? One would think that owning a company that sells so much bullion, you would want to pump it, not talk it down...
b/c he traffics in paper
Nadler has been bearish on gold for at least a year now.
Look at the charts and fundamentals and figure it out for yourself.
Nadler is a perma-bear on gold. He always has been, and always will be.
He wants people to sell real gold to him (and certainly to never take delivery on any long paper positions). That's all there is to it.
Someone mentioned my name? Listen gold is going to 200 soon. I know I've been saying this for years, but this time am sure am right. So sell al your gold quick! By the way we'll gladly take it from you at Kitco at the current prices!
Anybody?
Something tells me you aren't the real JonNadler. You look like an 18th century watchmaker.
Does 'AmericanPatriot' ring a bell?
Escapekey, you sure look pretty. Are you really Maggie Gillenhall?
Heh, that's Anna Chapman, hot russian spy (I'm sure her business card says exactly that).
Hey, I maybe be bearish, but HSBC and JPMorgan have taken good care of me over the years you know.
You're so right, why would I be bearish since I work for JPMor.... errrr I mean Kitco
Can you get me in? I would sell my scruples to the devil for a plum job at a TBTF bank.
You can keep my two half-ounce gold coins in return.
Can you project arrogant insolance shamelessly, (without any facts) and so strike fear in the hearts of goldbugs everywhere? Can you give me an example of how you would go about terrorizing goldbugs?
Oh, and you also have to around chatrooms and bogs pretending to be regular people using handles like Robottrader and JWFlorida
"Mrs Miggins, how about turning those pretty but let's face it rather useless gold coins in for some cold hard cash? How about that trip to Paris you were telling me about? You know, they don't take gold coins at the travel agents round the corner. "wink wink".
You should travel while you are young. Mrs Miggins, you can't be one day older that 55. Oh you are 75. ... on and on and on ...
http://www.youtube.com/watch?v=TbIRedOqDwE&feature=related
What a shitty movie
OK, I'll mention your name to Jamie during our next staff meeting
It's Mr. Bigger Dickus, BSc.
what are your scruples worth? skosh I'm thinkin'
Buy nickels, they're worth six cents in melt value.
And that POS Tesla still hasn't gone under. Unbe-fucking-lievable.
You know, I've always enjoyed reading ZH but now it's getting to be ridiculous. Every single thing written here about QE2 being "baked in" and "selling on the news" and "look at the outflows", etc. is and has been way off base. Comical but sad now.
I've shared some of the info here today with some of the people I've been meeting with in Detroit (mostly auto execs) who can't believe what they read here. They've witnessed an amazing turnaround and are seeing jobs actually being created and revenue and profit growing. In short, they aren't SEEING what you guys who aren't here but write about as if you were, are ranting about.
If nothing else, it'll be a humourous conversation at dinner tonight...sell off on QE2, end of the world, economy a disaster, yeah, right.
Harry,
I am sure that once you get you mouth off of Ben Bernanke and Executives cocks you might realize what is really happening.
Until then suck away and enjoy those profits earned off the backs of hard working Americans.
In short Harry...Fuck You.
Yeah, it's almost like he believes that ZH has the power to influence/manufacture ICI data. It's about as ridiculous as getting mad at GW for reposting actual news reports of problems still going on in the Gulf. How dare these crackpots quote official news and information sources and then comment on the obvious!
Here's the thing Harry.
http://research.stlouisfed.org/fred2/series/TOTLL?cid=100
Now keep in mind buddy, this is Fed data, don't shoot the messenger! In a fractional reserve system, debt needs to expand in order for the economy to expand. Private debt is contracting, ergo, public debt needs to expand at a rate greater than the contraction in order to expand the economy. Ergo, public debt is being expanded at a rate greater than the contraction. This is why stocks are going up, period, end of story. That doesn't make longs stupid, but it does make people who are long based on what they perceive as "improving economic fundamentals" lucky, and stupid.
Now to the other topic, of why you're stubbornly long equities regardless of your dollar weighted and/or PM adjusted actual vs. nominal returns, it's worth noting that you would have experienced significantly better gains over the past 5 years going long even in paper gold/silver. This isn't some "crackpot"/"goldbug" "opinion", just look at the charts. Tells you everything you need to know.
I sincerely hope this post chastens your opinions and brings you back to reality. Otherwise, I'm not sure the collective ZH community is going to be able to save you from yourself. I give enough of a crap about you as a human being to bother to write this, please give it some consideration.
Yeah, but ALL research is trailing - what has happened so far. Feet on the ground is the closest to a crystal ball you get. Personally, what I see is stuff picking up speed too... house sales, hiring, etc. Healthy? No. Getting better? Seems to be...
HarryWanger????
More like Harry Wanker
#### off
So you believe everything is peachy, then? So good, in fact, to justify the best Sept/Oct in 70 some years?
really??
"They've witnessed an amazing turnaround" - um.. go long on GM stocks then. You first.
"and are seeing jobs actually being created and revenue and profit growing." So why is insider selling so stinkin' high right now vs. insider buying?
If the economy is so great, why the need for QE?
Seriously - who pays you to post Fed propaganda here? Don't worry - no one from ZH will report you but given your obvious ignorance to what's going on, either you're just troll bait or a paid spokesman.
As any with half a brain on ZH knows after reading your constant analysis, you're more gambler than trader - and more lucky than good.
He hired 2 people recently thus the recession has been declared over so never mind the other 25% unemployed, the dollar being depreciated, or the market indices being richly priced.
Harry you complain about this website being so biased yet you continue to visit and even refer friends so something does not compute.
If you don't like what you read here then just walk away...your "advise" is more or less useless as you fail to provide any factual data of all your claims. You're nothing but an obnoxious gambler with the need of attention.
I'll always enjoy your commentary, Harry, if I usually hearty disagree, so I'll not the join the chorus of angry shorts junking you. Nonetheless, I intend to remind you of these comments by reposting them next Friday. Should be entertaining.
Poser Bitch!!!!
The public ripping money out of mutual funds as reported above isn't reading ZH nor is the data fictious. Don't think they're buying american cars with the money either. Car parts, yes.
See car parts manufacturer DORM.
http://finviz.com/quote.ashx?t=dorm
If things are so damn good why is the FED pumping 600B+++ into treasuries and other crap? Sure some sectors of the economy may be seeing some light but the fundamental fact is that the overall US enonomy would be taking a dirt nap if it wasn't for Ben shooting syringes full of adrenalin at 5B a pop. Without the ejections we would be back at the 666 lows.
You are sooooo right, because that graph of the market performance versus stock outflows sure is a logical correlation. ZeroHedge MUST be making this shit up as they go along. The market isn't rigged with HFT trading, quote stuffing, POMO, and Fed intervention. I mean, PE ratios show buy on these stocks all day long. Those insiders don't know a god damned thing about their own companies and the stock positions they are unloading.
+1 Dr. Richard. LMFAO. Is Harry's auto exec friends idiots ?? GM, Chrysler, and Ford are in debt up to there eyeballs, and Ford is desperately scrambling to pay off some of their monstrous debt load now that they are 'profitable'. What a fucking joke.
Where would this 'recovery' be, if it wasn't for a ridiculous $1.7tn deficit? Bernanke practically just admitted today he'll monetize whatever the deficit is, so I really do struggle to be bullish about an economy which is so obviously eating its own tail.
Easing off the deficit will almost certainly throw the US economy right back into recession. That really is the main issue with stimulus, etc, the market grows a dependency...
But yeah, this place certainly has its share of perma-bears.
OK Harry, I'm here in Metro Detroit and work as a Department Head at an automotive supplier.
So, I can honestly say...WHAT THE FUCK ARE YOU TALKING ABOUT?
Or, more humbly, you are a lying sack of shit. The industry isn't even close to it's former self. We aren't even at 12M units dumb ass. Nobody is dripping in profits. Granted, we are cleaning out our lockers but to say that 'auto execs' are prancing around like peacocks about the raging comeback....that's just a flat out fucking farce.
Which "execs" are you talking to? I suspect they and their firms will remain unmentioned...you know, because they don't exist.
....aw, wtf, Harry's just a sell-side pumper practicing his craft from the safety of a shark cage. Throws out the chum and here comes the sharks. Ignore.
so many infuriated replys to a non-offensive post makes me think many aren't enjoying tremendous prosperity from all their ZH indoctrination.
I would like for Harry to tell us what the Pontiac and Mercury executives are saying.
One, ONE good day for auto parts. One.
You are certainly indoctrinated well.
Let me guess....went to government schools, yes?
Wake up Harry.
What? What did the 'government schools' part mean? Do you mean public schools...or universities....or what? I don't think he's uneducated. He's just a d-bag. I also don't think America's public schools are as bad as we fret about. I certainly don't think they suck hind tit behind Europe.
You know how one knows we are close to top ticking the market (okay bernanke will not let that happen, so i digress)? Because you were writing the exact same shit in April 2010. Only I think your trip then was to Chicago.
Just an FYI if printing money and goosing asset prices was the path to prosperity, we would be bowing at the feet of Argentina.
Could it be that Harry is a one man sleeper cell planted by Detroit terrorists? Gaining our collective trust? Only to convince us that we should be buying GM? The timing is suspicious.where's the avatar with the big eye-somebody needs to keep watch over this Harry Wanger.
as long as we're making things up ... wouldn't it be ironic if ZH if a fed tool used to scare the ba-jesus out of everyone to sell their shares cheaply to the future usa central planning committee?
"... wouldn't it be ironic if ZH if a fed tool"
I have contemplated the fact that ZH might be a psyops many times. Fortunately, there are way too many "characters" roaming the grounds. I have been more concerned at the prospect of hanging out, metaphorically speaking, with a bunch of crazy people, though. My toaster just spoke to me. Hello?
Harry changes his tune twice as often as the seasons change in Detroit. Here long enough to know....
I second that. He's the ultimate front-runner.. without the championship rings to show for it.
how's that Volt thing working? Sales figures? - Ned
Happy 6 month anniversary.
This has got to be cutting into the bank profits.
And that POS Tesla still hasn't gone under. Unbe-fucking-lievable.
Speaking of MBS, will this story now finally be talked about in the MSM? Or only the Bush Tax cuts until Christmas?
"then hookers, then lapdances," - I am long those :)
what? are you saying the price of lap dance will go up?
You will be charged $100 per inch, time to get "inflation" under control! :>D
Ben's new program: Buying all the new car repo's from dealers.
What company makes MRE's? I'm long them in physical delivery.
Honestly, Costco/Walmart/Target is probably the play here. Low end/bulk retail in the face of rising food/energy prices (which may not matter to the Fed, but matter to actual humans) seems pretty obvious, particularly as stocks get inflated anyways.
I wish there was a way to buy Goodwill stock. My local shop where I get my clothes has been really busy the last few months.
Benny just ensured that the stock market will rise unstoppable for the next 9 months. We all know the policies adopted by the FED are crap, but he thinks stock wealth = spending power and growth. It was made clear in the FED notes, that they are going to do what they want to do, and there is nothing going to stop them. Even if they have to double down, triple down, or whatever. Commodity prices and stock prices are going much higher over the next 9 months.
I would be willing to bet we start to see inflows begin to come back into stock and mutual funds starting next week. Obviously, sitting on the sidelines is more suicidal than being in stocks at this point. Play the game until it cannot be played anymore. Once bond rates start going back up dramatically, then its time to dump stocks. Until then, enjoy the freebie the FED is offering at the expense of the US Dollar.
+1
"the Fed will never stop monetizing everything."
Ron Paul 2012.
Not found of that guy, but he seems to be the only one willing and the onlyone to have enough balls to stop the printing press.
The banksters would nuke DC before they would allow him to occupy the White House. Or at worst, they would nuke the economy soon after in order to blame it all on him.
I am expecting more of a political kill - an intern claiming the performance of BJ, a tax return showing he "cheated" by $220, or some other irrelevant material "accidentally" provided by NSA. It will be similar to Spitzer's political assassination but a bit more elaborate.
IMO, that is going to be the true barometer of how big QE becomes and how fast it gets there. They will POMO worthless dollars to boomer retirees in order to keep the appearance of solvency.
That is pure comedy gold. Well, except for the truth contained within.
QE1 = good idea to be long (gold) stocks
QE2++ = good idea to be long Physical(whatever you can physically get), cuz this shit won't last long and than it' s lights out
From here on out there are 2 options
1 - Keynsian economics will work ;)
2 - Systemic collapse, as the American consumer was the only thing holding global growth for the past decade with the purchasing power of the dollar going to 0 in the next few years guess what's going to happen it won't be the end of the world only the end of the world as we know it and I think WW3 might just happen before QE3 or they will be synonymous
Say it ain't so!
I mean, according to the frauds in power, everything is great with all the green shoots and all. I mean, look at how positive everything is!
LOL
There went silver barely over 25.
The NYFED is now COSTCO of the investment world
The thought that the fed owners will own the whole market doesn't bother me because it ain't and won't be worth jack when you boil it down.
HTF can Harry generate more commentary than the post itself?!?!?!
Maybe the funds are going into good old fashioned blue chip high yielding individual stock holdings.
Too bad Joe Six missed out on this rally.
Once in a lifetime gains are being had on many stocks.
For example, WFMI up 8% after hours....
The consumer that lives in The Hamptons must be stronger than ever.
Soon to be a 5 bagger off the lows from two years ago.
I'm primarily a bond investor, however, sure have been enjoying the short term
capital gains in high quality stock plays lately!
ROBOTTRADER, YOU AGGRAVATE ME IN A WAY NOBODY ELSE FUCKING DOES!!!!!!!!!!!!!!!!!!!!!!!!
I SWEAR I WANNA SEDUCE YOUR DAUGHTER AND MARRY HER JUST TO GET BACK AT YOUR ARROGANCE!!!!!!!!!!!!!
that's one of my holdings and it doesn't aggravate me in the least. it's obvious more and more people are willing to pay more for food that is safer and way more nutritious that the chemically enhanced junk they sell elsewhere.
Por que? Someone has to point out that everything appears to be normal in "Pleasantville!"
i'm surprised the mutual funds weren't killed off 10 years ago.
with their end of day trading, they only need to quote one daily NAV that ensures they can match inflows and outflows in such a way that insures daily profits. then they have so many restrictions regarding holding periods, load fees, or lockout periods.
people over 70 something are required to take out so much a year or suffer a penalty
just because people are catching on to that rigged game, doesn't mean the money isn't flowing elsewhere.
mutual funds are an ancient relic
Tyler and Staff,
How 'bout a graph comparing POMO inflows to Mutual Fund outflows?
POMO: Resistance Is Futile....
I hate just as much as anyone else what the Fed, Gov't, TPTB, Kleptocrats, and the rest of the scum are doing by sucking the life out of the middle class, but the bottom line is you either try to utilize the effects of what is happening or you become a victim (through lower standard of living by inflation/stagflation)....
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