There is striking divergence between social media mood (apocalyptic) and actual fund flows (and stock prices)
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Source: Michael A. Arouet, Goldman Sachs
active to passive, mutual fund to ETF and high cost to low cost. Active equity MFs have seen outflows every year for a decade equaling $2.3T (altho their aum still ok bc of bull mkt subsidy) via @JSeyff via Eric Balchunas / Bloomberg
-> An incredible $993 billion has gone into money market funds since the Fed started raising rates in March 2020. Inflows to money market funds are well ahead those seen in 2015, 2004, 1999 and 1994 rate hike cycles. Why take risk on your "safety" trade when you can make 5% risk-free? Source: The Kobeissi Letter