I have an account with bank fund managers that I don't control and they recommended upping my cash position into stock funds,junk bond and other bond funds. They know my position on the market and they still insist on doing this.(and they are doing this at the top of the market–look where JNK is) They also seem to hate cash and go off on protecting against inflation blah!blah! I tell them we're in a depression and this will go on for years and I know they're secretly laughing inside. They have a smug attitude because they got a cracker jack MBA somewhere where they were brainwashed into worshipping portfolio theory and they spend their career following the fund managers hered. And I am not so sure they have my interests at hand or are dumping unwanted bank inventory into my account.
I know… TPTB lead the market in a misleading direction, wait for MFMs to pile on board. TPTB reverse course on a dime and take it! Pensioners are left without anything! TPTB have it all! Profit!
Two items worthy of note (from a daily newsletter): * Stocks now account for 68% of investments held by mutual funds, pensions and endowments, according to a Citigroup survey. That’s up from 63% three months ago, and the highest level in 15 months * Individual investors have redeemed $10 billion from mutual funds in the last three weeks, according to the Investment Company Institute. There’ve now been 12 straight weeks of net outflows. So the funds are buying even as their investors are selling. What to do?
Is this how they make their billions… taking it from the mutual fund managers who are late to the party?
I got it… thanks.
Red,
Sent u email
I saw Atilla's prediction, too. Once we break 1120.95, that scenario is absolutely in play. Remember last summer?
I have an account with bank fund managers that I don't control and they recommended upping my cash position into stock funds,junk bond and other bond funds. They know my position on the market and they still insist on doing this.(and they are doing this at the top of the market–look where JNK is) They also seem to hate cash and go off on protecting against inflation blah!blah! I tell them we're in a depression and this will go on for years and I know they're secretly laughing inside. They have a smug attitude because they got a cracker jack MBA somewhere where they were brainwashed into worshipping portfolio theory and they spend their career following the fund managers hered. And I am not so sure they have my interests at hand or are dumping unwanted bank inventory into my account.
^%#@… 20 cent pullback on the DIA, that's it?
Exactly! Now let's all gang together, form a lynch mob, and go hang the bankster gangsters! LOL
I know… TPTB lead the market in a misleading direction, wait for MFMs to pile on board. TPTB reverse course on a dime and take it! Pensioners are left without anything! TPTB have it all! Profit!
The Mutual Fund Managers are commonly wrong, so I wouldn't follow them… that's for sure!
Two items worthy of note (from a daily newsletter):
* Stocks now account for 68% of investments held by mutual funds, pensions and endowments, according to a Citigroup survey. That’s up from 63% three months ago, and the highest level in 15 months
* Individual investors have redeemed $10 billion from mutual funds in the last three weeks, according to the Investment Company Institute. There’ve now been 12 straight weeks of net outflows.
So the funds are buying even as their investors are selling. What to do?
Is this how they make their billions… taking it from the mutual fund managers who are late to the party?
LOL… you know how the game is played. It's designed to shake out the bears before they tank it, and shake out the bulls before they rally.