Flash Crash Means Dash For Cash – Big Fund Outflows Reported
Courtesy of Joshua M. Brown, The Reformed Broker
Sorry about my Dr. Seuss-esque post title, I’ve always wanted to do that.
Don’t fall out of your chair on this one, but apparently, regular folks aren’t such big fans of intraday 1000 point swings when it comes to their savings and investments.
Zero Hedge has the outflows data for the week after May 6th…
ICI has reported the most recent fund flow data, and it’s a doozy. In the week following the flash crash, domestic equity funds saw a whopping $8.6 billion in outflows. As a result, the YTD outflow is over $9 billion.
Keep it up, fellas. With any luck, we can push anyone with a beating heart out of these markets and go software only.
Disgraceful.
Source:
Whopping $9 Billion in Equity Fund Outflows Following Flash Crash (Zero Hedge)
