The Shotgun Blog
Wednesday, September 29, 2010
Yay for the stock market rally!
The stock market has been on a tear lately. Those prices have just been shooting through the ceiling, bucking the whole bearish September trend of past years. Seems like a good time to be getting into back into the market to catch that ride to wealth and prosperity!
Or is it?
When the rate at which people are taking money out of the market is accelerating, and hitting multi-year highs, one wonders how the market could be on a tear.
Well, actually there's a perfectly good explanation, and the truth is obviously getting through to a lot of investors.
You have to admire the big investment bank's and the Federal Reserve's Keynesian commitment to the belief that rising prices will shore up confidence. But you have to admire the emerging sanity of investors more so, for seeing through the thin-veneer of platinum covering over the soft serve bullshit underneath.
Posted by Mike Brock on September 29, 2010 | Permalink
The highlighted article notes that mutual funds are experiencing a long string of withdrawals lately. Could it be that investors are finally fed up with paying 2 to 3 or more percent in management fees on funds that do nothing but lose money?
Posted by: Dennis | 2010-09-29 6:49:40 PM
Last Friday was a great day for my portfolio.
On that day, my $130,000 loss was wiped out and the portfolio reached an all-time high.
And, it'll get even better.
Posted by: set you free | 2010-09-29 7:36:04 PM
I wouldn't touch U.S. stocks with a ten foot pole ;)
Posted by: Charles | 2010-09-30 6:00:07 AM
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