Above is the Morningstar data that tracks mutual fund dollar flows. This is smart to monitor because it aides me in determining which asset classes might seem a bit too crowded. So for the month of March, bonds had $23 billion of dollar in flows, foreign stocks had $6 billion of dollar inflows, and domestic stocks had $3.3 billion of dollar outflows. Sorry, in over 20 years of professional money management, not sure I've ever seen a major top in stocks with net redemptions. The probability is not great for a major top in domestic stocks anytime soon.
Side Note* - looks like all of the brain-dead, human "robo-advisors" (who are probably worse than actual robo-advisors) added $6 billion into foreign equity. I would equate this to all of the money managers who loved Blackberry stock from 2009 - 2012 all the way down because the earnings looked cheap. When you fail to notice the sea-change the results can be quite painful.
Cheers!
P. Franklin, Jr.
April 26th, 2017
All opinions and estimates included in this communication constitute the author’s judgment as of the date of this report and are subject to change without notice. This communication is for informational purposes only. It is not intended as an offer or solicitation with respect to the purchase or sale of any security. This information is subject to change at any time, based on market and other conditions. Any forward looking statements are just opinions – not a statement of fact.
Investing may involve risk including loss of principal. Investment returns, particularly over shorter time periods are highly dependent on trends in the various investment markets. Past performance does not guarantee future results.