Tag Archives: Credit Suisse

Cheap Money + Share Buybacks = Bull Market?

The market rally of the past twelve months may appear somewhat baffling in light of the fact that individual investors have been pulling money out of the market.  The S&P 500 is up 22.5% in the last year, while September marks the 17th consecutive month during which investors took money out of equity mutual funds.  The outflows from equity mutual funds are not simply due to investors moving from mutual funds to ETFs.  A recent analysis by Bianco Research demonstrates that including ETF flows does not change the results. Continue reading