Buffalo Stampede

From the stock market low in March through the end of September, retail investors, who own half of the U.S. equity market, had put only $2.5B into mutual funds and exchange traded funds for equities, largely missing out on the market’s 60% rise. Investors had pumped $254B into bonds during that time, a ratio of 100-1 of bond to equity investment.

Forget about the bulls and bears. Markets, both up and down, behave more like buffaloes.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s