Who The Hell Is Doing All The Buying?
The mystery bid
Yes, we know that the following type of flow analysis is at best incomplete, and we know that for every seller there is a buyer. But tracking what the major cohorts of equity investors are doing has sometimes served us well over the years. The problem today? Almost every major cohort appears to be selling or stepping back. Yet stocks sit at all-time highs. So who exactly is doing all the buying?