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Weekly Outflows From Domestic Equity Mutual Funds Surge To $13 Billion, Nearly Surpass Post-Flash Crash Record

Tyler Durden's picture


More very bad news for mutual funds (which as we disclosed last week have an all time record low cash level ergo once the liquidations begin it is game over): as of the week ended August 3, redemptions from domestic equity mutual funds surged to a near all time high $13 billion, matched only by the $13.4 billion on May 26, 2010. The problem however is that back then we had a dramatic snapback. This time, considering that the market has dropped by almost 10% since August 3, we are fairly confident next week we are due to see an all time record outflow from equity funds. To all those who incorrectly assumed that retail sentiment as expressed by redemption is a contrarian sentiment, best of luck rummaging through the gutter for those McDonalds leftovers. And just is scary is that for the second week in a row, there were outflows from every single security tracked by ICI, nothing was spared: not taxable bonds, not foreign stocks, not munis. Retail has had it with this joke of a market and is investing in ZZ and nothing else. Net result: $67 billion in cash outflows from equity mutual funds in 2011 (and $98 billion in 2010): so... does the SEC still not think there is a confidence problem vis-a-vis the churnathon known as the stock market?


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Wed, 08/10/2011 - 17:44 | 1548596 Badabing
Badabing's picture


Wed, 08/10/2011 - 18:01 | 1548654 darkstar7646
darkstar7646's picture

We're seeing more and more "splatters" of it, but I don't think the chunks have fully hit the air circulator yet.

That comes when the rioting goes full-scale here.

Wed, 08/10/2011 - 19:44 | 1549100 Id fight Gandhi
Id fight Gandhi's picture

Td ameritrade was just bragging about their best day on monday. So little guess it would be a worse outflow coming this week. D'oh!

Wed, 08/10/2011 - 19:52 | 1549127 nmewn
nmewn's picture

Now it can be asked. Where's Leo?

Aren't these funds "professionally managed"? ;-)

Wed, 08/10/2011 - 20:09 | 1549183 Freddie
Freddie's picture

I only invest in Morningstar's best mutual fund - Fairholme Fund managed by Bruce Berkowitzberg. He holds a concentrated portfolio in high quality stocks like Bank of America.

Wed, 08/10/2011 - 20:13 | 1549198 nmewn
nmewn's picture

I'm sorry for your loss ;-)

Wed, 08/10/2011 - 23:57 | 1549805 High Plains Drifter
High Plains Drifter's picture

where is leo? he is partying and picking up hot french chicks and getting shit faced.....

Wed, 08/10/2011 - 17:45 | 1548597 SilverDoctors
SilverDoctors's picture

Wait till these weekly outflows start going directly into physical silver.
Got Phyzz?

Wed, 08/10/2011 - 17:48 | 1548610 George the baby...
George the baby crusher's picture

You got gold silverdoctor? 

Wed, 08/10/2011 - 18:56 | 1548907 yabyum
yabyum's picture

Indeed I do.

Wed, 08/10/2011 - 20:13 | 1549191 slewie the pi-rat
slewie the pi-rat's picture

how does all your moronic trolling here do for your fuking asswipe website? 

this shit is getting pretty old, too (Paste from one of your cutesie-pie turd piles of troll shit): 

Just discovered Blythe Masters (yes, the wicked witch herself) has a personal blog as well as facebook page!

Feel free to express your feelings to Blythe at her personal blog

Or on her personal Facebook page.  (Facebook comments are removed within minutes and expect to be permanently banned from Blythe's facebook page like we were!)  ;)


hey Doctor SPAMMER Shithead:  get lost.  stay lost.  or, lose the ads and try saying something intelligent. 

i'd prefer the former, but to each his/her own.

Wed, 08/10/2011 - 21:03 | 1549394 Yes_Questions
Yes_Questions's picture

Can Hall Monitor be added to the lexicon round here?


This is not Outdoorsigns.whatever and good on you Slewie!

Wed, 08/10/2011 - 17:45 | 1548601 mynhair
mynhair's picture

I'm confident there is a problem with the pig.

Wed, 08/10/2011 - 18:05 | 1548674 rosiescenario
rosiescenario's picture

...needs a new make-up artist

Wed, 08/10/2011 - 17:46 | 1548605 caerus
caerus's picture


Wed, 08/10/2011 - 18:05 | 1548614 mynhair
mynhair's picture

Remember: redemptions have to be requested by 2pm ET.
Look for sell offs at close.
Funds settle at day's close!

Wed, 08/10/2011 - 18:23 | 1548763 rocker
rocker's picture

It makes me think. If fund managers have no cash, so they say. With each leg down and massive numbers on down days how low this will go. Even though we have up down days, it just does not seem like we capituated yet.

Wed, 08/10/2011 - 17:57 | 1548635 gwar5
gwar5's picture

If even a fraction of that money goes into PMs, which it should, then it could get very real.

"Fiat money has no place to go but gold."  --- Alan Greenspan, to the CFR, 17 Sept 2010


Wed, 08/10/2011 - 18:11 | 1548706 mynhair
mynhair's picture

I see 1801.20 right now. I luv tradition. The glue of society.

Wed, 08/10/2011 - 17:58 | 1548639 ebworthen
ebworthen's picture


The market commentary mavens say it is "fear" or some other derogatory comment about retail investors not understanding "the markets."


People probably NEED the money, or realize that the only way the debt can be paid is confiscatory taxation or annuitization schemes (or both) from the clowns in Washington.

Get your money now, buy PM"s and/or pay off debt because the great depression never left us, it was merely levitated and the parched cracked earth of the U.S.A. had a mirage placed upon it of $10 TRILLION of theft from the future and FED Keynesian incantations of dark spirits and opium induced rainbows.




Wed, 08/10/2011 - 18:04 | 1548670 kito
kito's picture

we are only down about 15 pct off the dow high of 12,700. can you imagine when the sREALLYhtf???? we havent even begun to scratch the surface......looooook outttttt belowwwwwwwwwwww......

Wed, 08/10/2011 - 18:15 | 1548720 mynhair
mynhair's picture

Short and hold is as stupid as buy and hold. Trade!

Wed, 08/10/2011 - 18:43 | 1548852 kito
kito's picture

soon we will all trade----a bag of flour for some sugar perhaps. a piece of silver for a 45 minute tutoring session in mandarin chinese....

Wed, 08/10/2011 - 23:34 | 1549767 uniman
uniman's picture

Don't waste your time with Mandarin lessons.  China is a big hoax and is going to have a harder fall and far bigger hang over than the US.  But WTF ?  The customer's always right.  If you're tired of lugging those bags of silver around I can hook you up with some lessons; let's make a deal.  I also accept Bitcoins.

Wed, 08/10/2011 - 19:41 | 1549088 DCFusor
DCFusor's picture

Yup.  No set and forget in this world, gotta trade and earn your gains.  Why be dumb by choice?

Wed, 08/10/2011 - 18:17 | 1548729 mynhair
mynhair's picture

Au - 1804.28

Wed, 08/10/2011 - 18:21 | 1548749 mynhair
mynhair's picture

Is the BOJ dumb enough to intervene in the Yen again?
Ok, stupid question. Those morons have forgotten they have nothing to export right now.

Wed, 08/10/2011 - 18:24 | 1548768 Stoploss
Stoploss's picture

Wha?? They are currently THE NUMBER ONE exporter of all types of radiation kind sir.   ;)

Wed, 08/10/2011 - 21:24 | 1549468 Yes_Questions
Yes_Questions's picture

That's good.  Don't whistle past the graveyard..

Wed, 08/10/2011 - 18:21 | 1548754 kito
kito's picture

btw did i miss something or have there been no margin hikes on gold?

Wed, 08/10/2011 - 19:11 | 1548967 disabledvet
disabledvet's picture

no learjets to Washington DC either. That's a war town down there--created and named for our first General and our first President of the United States. They don't need the money to tell them what's going on and they haven't since day one of this crisis. The fact that those with the money still have no clue speaks far more than those with a "charge to keep." The latter are going to provide the answers now.

Wed, 08/10/2011 - 19:55 | 1549138 spinone
spinone's picture

That's a war town down there--created and named for our first General

Quotes like that keep me coming back

Wed, 08/10/2011 - 18:22 | 1548756 reader2010
reader2010's picture

Sell in May and Go Away?

Wed, 08/10/2011 - 18:27 | 1548779 mynhair
mynhair's picture

I'll buy all your physical at May prices, and you can go away.

Wed, 08/10/2011 - 19:11 | 1548966 DosZap
DosZap's picture

mynhair,@ 18:15

What did I miss here?

Short and hold is as stupid as buy and hold. Trade!.

Then one is to take it, you own no physical metals?.


Then this comment. @18:27

I'll buy all your physical at May prices, and you can go away.

Color me confused at your two posts.


Wed, 08/10/2011 - 19:46 | 1549105 Id fight Gandhi
Id fight Gandhi's picture

Seems like that would have been the best cliched advice for the past 6 years

Wed, 08/10/2011 - 18:24 | 1548767 mynhair
mynhair's picture


Wed, 08/10/2011 - 18:28 | 1548792 magpie
magpie's picture

Where would it be now, had not SocGen been selling in distress lol

Wed, 08/10/2011 - 19:29 | 1549034 mayhem_korner
mayhem_korner's picture

I just brought the 1700! cake back to be fitted for 100 more candles.  Maybe I should just wait for the weekend and get a larger cake.

Wed, 08/10/2011 - 18:26 | 1548777 honestann
honestann's picture

There is no market.

There is no market.

There is no market.

And there hasn't been for quite some time.

Wed, 08/10/2011 - 18:28 | 1548787 mynhair
mynhair's picture

But there is still 36 black.  Place yer bets!

Wed, 08/10/2011 - 19:24 | 1549015 honestann
honestann's picture

Yeah.  Plus the odds in Vegas are much better AND the tables are much less rigged.

Disclaimer:  Still, I advocate gold, not Las Vegas!  :-)

Wed, 08/10/2011 - 19:47 | 1549109 Id fight Gandhi
Id fight Gandhi's picture

Vegas is 0 and 00 and Monaco just 0, no 00 right? Or is it the other way around, all things being on the LEVEL

Wed, 08/10/2011 - 20:50 | 1549341 honestann
honestann's picture

I have no idea about monaco, but Vegas does indeed have 0 and 00 on the wheel.

Disclaimer:  I never gambled a penny in Vegas, but I have stood by the tables and watched the fools lose their shirts... usually slowly.  As dumb as gambling in Vegas is, it isn't 0.1% as dumb as gambling in the paper non-markets these days.

Wed, 08/10/2011 - 18:36 | 1548803 mynhair
mynhair's picture

1811.58, and going up

Ag still below 40

Nope, gold top.  Sell me yours.

Ah hell, 1814.43

Wed, 08/10/2011 - 18:48 | 1548866 ImNotARobot
ImNotARobot's picture

I know that it has been impossible to log into my 401k plan's website the last few days.  Not exactly the same as a mutual fund, but along the same lines.

Wed, 08/10/2011 - 19:35 | 1549061 DosZap
DosZap's picture


<I know that it has been impossible to log into my 401k plan's website the last few days >

DUDE..............................they have telephones.

IF you want your cash out, get to dialing.ASAP


Wed, 08/10/2011 - 18:48 | 1548869 Quicksilver
Quicksilver's picture

Retail has had it with this joke of a market and is investing in ZZ and nothing else

What's so great about Sealy Corporation?

Wed, 08/10/2011 - 18:51 | 1548886 kito
kito's picture

the mattress my friend, the mattress

Wed, 08/10/2011 - 18:57 | 1548909 kito
kito's picture

@quicksilver--i assume its not the place you put your silver?

Wed, 08/10/2011 - 19:26 | 1549024 Quicksilver
Quicksilver's picture

In the matress? No, I still let James Turk help himself to some of it every month.

Wed, 08/10/2011 - 18:55 | 1548901 digalert
digalert's picture

Must be a Meredith Whitney thing...

Wed, 08/10/2011 - 18:55 | 1548904 DosZap
DosZap's picture

For those who have not seen it.

Ron Pauls take, on MSM interview.

Worst thing this world has faced.........................

Wed, 08/10/2011 - 19:07 | 1548944 rlouis
rlouis's picture

In the event that the SEC is  reading comments here:

Hey - you guys are as lame as Eric Holder.  pfffftttt.  Wouldn't want that on my resume.

Wed, 08/10/2011 - 19:27 | 1549028 mayhem_korner
mayhem_korner's picture

Great chart.  Two months into QE2, nothing but digital fiat and late-day algo props were flowing into the market while manipulative quotes were being fed to the sheep via the banksters desks. 

Talk about yer vapor-ware.

Disclosure: About 3 months ago, I made my final divestiture of equities.  I've since been sitting tight on about 15% equities, all of which is in raw materials/energy.  Everything else moved to cash, physical commodities and PMs, plus some short-duration bonds, and commodities.  As I interact with folks, I keep very quiet that my portfolio is in fact UP for the month of August.

Wed, 08/10/2011 - 19:37 | 1549070 DosZap
DosZap's picture

Take a look at someting most, if not all have never seen...............

A $34.00 higher Gold price over Platinum......................only the world coming apart caused this.

Wed, 08/10/2011 - 19:44 | 1549084 Hephasteus
Hephasteus's picture

Not to worry all those state IOU's will make for a hell of a money on the sidelines rally when tax revenue comes back. LOL

Oh wait. We have 3 days of "pent" up bringing shit back on books from a budget deal on the federal cap and gold moves 10 percent without even ensuring the survival of the post office past september.

All it takes is one more congress 2 trillion monthly spending session like they pulled back a while ago.

Man they spent a lot of money during the no budget deal month to devalue currency 10 whole percent.

Wed, 08/10/2011 - 19:41 | 1549090 DosZap
DosZap's picture

Sorry for the multiple posts..........

But, I just saw the ObaMao Re-Election Ad, and I puked on my keyboard.

Only the self delusional,arrogant,narcissistic, or devious sob on the planet would dare to THINK they deserve another FOUR years of this shit.

Wed, 08/10/2011 - 20:05 | 1549172 spinone
spinone's picture

Gentlemen and ladies.

Please stop for a moment and realise the historic times we are in.

No one knows whats on the other side

Wed, 08/10/2011 - 21:29 | 1549485 Manthong
Wed, 08/10/2011 - 20:15 | 1549206 karzai_luver
karzai_luver's picture

No prez fixes this now.


Where the bottom pit of hell is we shall see it.


Then who knows.


Wed, 08/10/2011 - 20:15 | 1549207 Misean
Misean's picture

They're just positioning themselves for the next big run up in schlocks!

Wed, 08/10/2011 - 20:21 | 1549222 Buck Johnson
Buck Johnson's picture

What for the MMF (Money Market Funds) stopping redemptions real soon.

Wed, 08/10/2011 - 20:44 | 1549324 Yes_Questions
Yes_Questions's picture

redemptions from domestic equity mutual funds surged to a near all time high $13 billion

Yep, the $50bill squatter subsidy of redirected mortgage payments simply is not enough for the "consumer" to SURVIVE on.



Wed, 08/10/2011 - 20:53 | 1549361 blindman
blindman's picture

the market behaves as programmed, as intermediary
facility to launder the feds self dealing/stealing
access to treasury and money creation at the expense
of the working, poor , retired and unborn. it goes
in, the machines fiddle with it and then the insiders
pocket the bailout. nice clean new fresh earned
profits. so...
these monies will be used to play bond vigilante
some point but only when the jig is up, this sweet
long con is nothing to disrespect when it is delivering
fortunes the way it is but the lawlessness and all has
to catch up with the public sentiment at some point.
before there will be bond vigilantes there are the
qe vigilantes, now pocketing the prior bailouts.
when they have engorged sufficiently, to the extreme
point of elasticity, then they will once again trash the place
and preach more discipline for the poor, working, elderly
and unborn.
check out max describing the junk treasury market.
the problem is the "money", federal reserve notes.
end the fed

Wed, 08/10/2011 - 20:54 | 1549366 Yes_Questions
Yes_Questions's picture

Good-Bye retail fool

though I never,

knew you at all you had the grace

to ignore the truth

while institutions failed.

Wed, 08/10/2011 - 21:33 | 1549504 ZapBranigan
ZapBranigan's picture

USAGX has done quite well the last three days and will most likely continue to do so. (until QEinfinity, that is) 

Wed, 08/10/2011 - 22:24 | 1549623 dwdollar
dwdollar's picture

The market is going to look even more clownish if it rallies hard tomorrow.

Wed, 08/10/2011 - 22:45 | 1549670 ShankyS
ShankyS's picture

TD can you please bring back the old bar chart. I think it helped Pissani understand your point better regarding ouflow reality. 

Wed, 08/10/2011 - 22:49 | 1549679 n2dark
n2dark's picture

They might have to preemptively unplug it to avoid the imminent crash. The ever increasing schizophrenia is just another symptom of what's to follow.

Thu, 08/11/2011 - 02:03 | 1549941 oa92000
Wed, 09/14/2011 - 05:27 | 1667628 chinawholesaler
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Mon, 04/16/2012 - 02:28 | 2347947 jaffa
jaffa's picture

Funding is the act of providing resources, usually in form of money, or other values such as effort, for a project, a person, a business or any other private or public institutions. The process of soliciting and gathering fund is known as fund raising. Thanks.
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