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The S&P 500 surged 12% in Q1, after an 11% advance in last year's Q4; so all is well with...

  • Monday, April 2, 2012, 8:30 AM ET
    The S&P 500 surged 12% in Q1, after an 11% advance in last year's Q4; so all is well with stocks, right? There's little conviction behind the rally, as investors have yanked ~$15.6B from U.S. equity mutual funds this year while billions of dollars have continued pouring into bond funds, and trading volume is down ~15% Y/Y to the lowest levels since 2007.
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    Investor conviction is usually a lagging indicator, not a leading one (except in the convictions of Allen Stanford and Bernie Madoff...)
    2 Apr 2012, 08:37 AM Reply Like
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