by Michael Lewitt, The Credit Strategist
Zero Hedge
Another week, another massive inflow into equity funds… just as the Nasdaq was about to get hammered with a painful 10% correction.
According to BofA Chief Investment Strategist Michael Hartnett’s latest Flow Show note, $22.2Bn in new money flowed into equities last week, following the previous week’s massive $46.2Bn inflow which was the 3rd biggest on record, bringing the total 16 week inflow to $436BN, a stunning outlier as shown in the chart below.
[…] Addressing this massive tide of money, Wayne Wicker, chief investment officer at Vantagepoint Investment Advisers said that “Investors are looking at the market today and saying, ‘Wow, this is going to come back faster than I thought. I need to position myself accordingly. There’s a fear of missing out, of being under-invested.”