"In a late headline that came across the tape, all IPO's that were to be priced for tomorrow were postponed indefinitely. This is a potentially a very negative development as the new issue market is a good barometer for the health of the mutual fund industry cash flows." Bill Fleckenstein
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Thread,
The above is from tonight's Fleckenstein Market Rap. Just thought it was an interesting statement and related to this....CNBC's mutual fund flow watchdog, Maria Bartiromo stated today that the most recent figures are, $1.7 billion of "Inflows" to mutual funds. She didn't go into any detail but, I'm assuming, it must be for the week ended last Friday August 7th. It wasn't the AMG figure to be released this coming Friday morning, but was some other figure she quoted.
The interesting point, of course, being the small investor is STILL looking for bargains and were willing to step in during the big whacks we have gotten lately.
MikeM(From Florida)
PS Sam, Regarding my last post, Fleckenstien's comment was "...virtually no new money coming in during the last three weeks." |
