Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
While the world of mainstream media stock pundits would like investors to believe that there is a wall of money on the sidelines waiting anxiously to go all-in on stocks (bear in mind there's a seller for every buyer and where does the cash on the sidelines go when it is handed over to the seller in return for his stock?), as none other than Charles Schwab notes in this brief Bloomberg TV clip, "investors are less rattled" than most believe, "and have stayed invested" in large part. "There hasn't been a wholesale movement away from stocks," he goes on, busting myths asunder, adding that "investors want to see market-driven conditions, not Fed manipulated ones."
So perhaps – just perhaps – Schwab is right, if the Fed stepped away and let markets be markets once again, maybe real capital would flow once again?
Schwab goes on to discuss how the Fed's policy has hurt the older generation – "it has been a terrible thing"
Beginning at around 50 seconds, Schwab calmly dismisses one of the biggest market myths and raises a few red flags – "we see the market go up or down depending on which Fed member is speaking…"
