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Pisani Stands Corrected: No Inflows Into Mutual Funds In September
Yesterday, when we disclosed the 22nd consecutive outflow from equity mutual funds, we decided to take Bob Pisani to task, who as can be seen in clip #2 from yesterday, mispreresented the truth before an audience of at least a few hundred people, when he said: "we had inflows into stock mutual funds" followed up by the following: "we have had 4 consecutive weaks of inflows into stock mutual funds in September." This is false, and we made a point of noting it: "can someone please explain to us how Mr. Robert Pisani can say, on
national TV no less (albeit to an audience which according to Nielsen is
at the lowest it has been in 3 years) at 10 seconds into the clip that,
"we had inflows into stock mutual funds." Um, no. That's not true. In
fact, someone less polite than us may say you are completely full of
shit Bob. Luckily, since we are far too polite, and since all the data
above is sourced directly from ICI, we would politely ask, Mr. Pisani,
where on the above chart is this "inflow" you talk about. We are eagerly awaiting Pisani's reply." Today, Bob did just that, retracting his statement and confirming earlier on CNBC that "retail investors are not impressed and continue to pull money from stock mutual funds." (30 seconds into the clip 1). We appreciate Pisani's sticking to facts. However, if Bob will do us the favor, and read the following article (link), he will understand why domestic equity ETFs also (though September, we will update the October Powershares data as soon as it is out) have seen outflows year to date, completely destroying any argument of inflows into domestic stocks via mutual funds or ETFs.
Clip 1
Clip 2
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Ouch, that's gonna leave a mark. But certainly not on CNBC since no one's watching. :>)
Tyler, what's it like knowing your following is about 1,000x larger than CNBC's viewership? - Take that Jeff Immelt!
anyone noticing that their NetNet deal is starting to sound a little more "truthy" and similar to ZH (in some aspects) and other reputable blogs?
It might be the plagiarism...
Too many blabber mouths. Not enough small airplanes to crash.
You don't think Piss Mouth reads ZH do ya. Or maybe someone on the floor told him about it. Yup, he was told.
That's only because they won't listen to my ideas. Spice it up with girls on stripper poles and the commentators having it out in a steel cage and ratings will be back. Have the corner crew asking econ and policy questions in between rounds.
"That was one hell of a right hook you took Cramer. What is the best play in financial sector right now?"
Got to shoot for the 18-25 year old male demographic. I doubt anyone could honestly say they wouldn't tune in if an oiled up Cramer was going a few rounds with Michael Pento. Or get to see "Angry" Alan Greenspan vs "Mad" Max Keiser in a grudge match.
Shameful,
You might just have a future marketing Ponzi 2.0
I suggest you get your resume in early to beat the huckster crowd. :>)
Ol 'Walkin Bob' Pisana misrepresentin on CNBS? Frankly Im outraged. Nah, Im not.
I object to that statement. Dozens of us watch CNBC. Sometimes. If baseball or Rosie O'Donnell porn isn't readily available.
Pisani did'nt think TD was watching. KILROY WAS HERE !
TD wasn't watching. One of his flunkees were in between trips to the coffee machine.
pisani is a lying sock puppet of the oligarchy who justifies his lies because that's his job and he does his job well....he is one of the nazi war criminals who justifies his immoral and repugnant behavior as mammon worship....
cnbc and pisani are organs for the orwellian totalitarian state. they are depraved disgusting"people".
fuck you pisani.
Lying Sock Puppet?! LMAO --> +1,000
I concur.
Money coming into market = buy since everyone else is.
Money leaving the market = buy since "cash on the sidelines" is increasing and dumb money is leaving.
Somebody made a phone call, because ZH called him on it this am -- ZH rules. MSM is for sissies.
Is Bob telling a lie or reporting one. Maybe it is a derivative lie and Bob remains wholesome.
Bob is not wholesome. He has interns in the Mistress Protection Program.
is this like the governments "revisions?"
TD - You speculated whether Pissonme read ZH yesterday or not I believe. I think that answer is clear. I heard him this morning backing out of the statement and knew he was feeling the pain of the retraction. Way to stay on top of, well basically, everything. Thanks for all you do.
When does the retail investor resevoir in the S&P dry up?..meaning that the Index can't drop because galoshed index mutual funds/pension funds can't exit because IRS has the withdrawal penalty gun at their head, and of course the Fed indirectly owning the rest.
Any charts breaking this down?
"can someone please explain to us how Mr. Robert Pisani can say, on national TV no less (albeit to an audience which according to Nielsen is at the lowest it has been in 3 years) at 10 seconds into the clip that, "we had inflows into stock mutual funds."
Sure... I'll let Johannes Dahlberg explain that $100 that flowed into Mutual Funds this past week/month/whatever..
http://www.youtube.com/watch?v=4TlPo0yCSa4
A victory for the bears!
Go Cal !
Oh hell ya. The golden bears are everywhere.
Well CNBC is part of GE's, MSNBC, NBC, CNBC troika of 24/7 lineral bullshit
CNBC, you're irrelevant. ZeroHedge will acquire you for 1/4 ounce of gold very soon.
funny ... except why are you glorifying a murderer and a criminal "chopper"?
because the instructions were to pick someone offensive. so i did. are you offended?
pisani is a piss ant.
the retard Pisani did not even own-up to his mistake. he did not correct himself from yesterday, just glossed over it and pretended he had never said the opposite.
TD, you are being too generous to his clueless retard.
+1
exactly, a full acknowledgement and apology to viewers was in order.
But, at least he calmed the fuck down from the cheerleading 'buy, buy, buy!' tone of yesterday.
Kudos to you again Tyler and the Zerohedge team. Keep fighting the good fight.
Fuck me, that is funny!!!!!
" In fact, someone less polite than us may say you are completely full of shit Bob."
Best ZH post EVER!!!! Gold Jerry, gold.....
Go ZH, keep the bastards honest.