Here’s your stat of the day, talk about sentiment…
From Financial Planning:
U.S. stock funds can’t seem to get any love these days, posting 13 consecutive weeks of outflows. For the week ended May 16, investors pulled an estimated $3.45 billion from the funds, according to the latest statistics from the Investment Company Institute. That’s $1.10 billion more than they withdrew from the funds a week earlier. Since the beginning of the year, the funds have lost $38 billion in outflows.
Non-U.S. stock funds also took a beating, losing an estimated $117 million in outflows for the week. They took in $1.04 billion the week before.
$38 billion yanked out of stock funds in less than five months this year. And who could blame them? Once the bullies shove you into a locker and hold your head down in the toilet, you learn to take a different hallway to homeroom.