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ICI Discloses 16th Sequential Outflow From Domestic Equity Funds: $44 Billion Withdrawn Since August
The lack of trust in equities just refuses to budge. Even as the market keeps going up courtesy of assorted low volume buy programs, short squeezes and the occasional 33 Liberty intervention, not only insiders but equity holders in mutual funds are taking every opportunity they get to shift out of speculative "cap gains" products and move into safer fixed investments. Since August 12 there has not been one positive fund flow into domestic equities, with the cumulative outflows now totalling $44 billion and rising, according to ICI.
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posted in prior thread
Timmay Live on TARP extension with a guest appearance by Liz Warren (let's see if she has gone over to the dark side)
http://cspan.org/Watch/Media/2009/12/10/HP/R/27032/Administration+extend...
I guess the old betting line of, "go against the public" and you will win has now shifted to the financial markets. The public is always wrong. As for getting the Stardust to set a total on the unemployment number or an over/under on the SPY, fugedaboutit. They know a rigged game when they see one.
I find the ICI data interesting b/c one of the things I have access to is information on Mutual Fund allocations of ~3000 people. The net movements of these ~3000 people is this:
Feb, March, and July: Money moved into Fixed instruments.
Jan, April, June, August, Sept, Oct, Nov: Money moved into equities.
The "Hand" at work. If the (public and private) rats are leaving the ship and yet more rats are in your bunk bed when you climb in, you need to be asking yourself where they're coming from.
My clients ask me why the market is going up when things are getting worse. Even the average Joe is beginning to smell an increase in the rat population, even though my clients are subjected to daily propaganda and programing.
Time to ramp up the Fear Factor again and corral those pesky sheep.
http://www.youtube.com/watch?v=ftl-SsJVfN4
This was "money on the sidelines." Then it left the stadium, got in its car, drove home and now sits comfortably in its soon-to-be-foreclosed-home-but-they-just-haven't-gotten-around-to-me-yet.
Does this include ETFs?
It does not include ETFs and those are a major beneficiary.
$44 B out of EQ funds
and $8 B into ETFs, mostly natural resources.
$36+ B in cash, hmmm...
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