Richie

John Hussman: Avoid Being the Greatest Fool

John,

You purposely mis-lead your readers by declaring that Mutual Fund cash levels are at all time low levels.

Why do you exclude the funds available to the hedge funds and wealth managers from your total of Mutual Fund cash levels? The point of the article you refer to is that there remains tons of money available to fuel this great bull market.

While it MAY be true that Mutual Fund (in the classical sense) cash is less than 4%, there is certainly ample liquidity from all sources to keep this rally going. Money, especially on a world wide basis, is everywhere.

Also, what do margin debt levels have to do with anything? You must be aware that never in history have high margin debt levels percipitated an economic or even a stock market decline. Check with Hulbert.