Our friends at the "Above the fringe Group" (AFG) just posted a very interesting bit of information:
34 Billion in equity mutual fund outflows so far in August. Just 13 billion more and this will be the single biggest monthly outflow in ICA history! The problem? As of June ,the mutual funds held a record low of just 3.4% cash....you get the point. Ouch!
In the last 3 weeks 67 billion has been withdrawn from all asset classes.
Scary stuff...scary stuff.........Dudeman.
