The latest Lipper fund flow data is an and it is not pretty: in the latest week, there was $12.2 billion in equity outflows, the largest weekly redemption in 5 months...
... and more importantly, this represents 7 straight weeks of outflows: the longest streak since 2008.
Concurrent with the flight from US equities, we have seen the biggest European equity redemptions since October 14:
This must be trasitory, right? Core Consumer Prices surged 0.3% MoM - the biggest jump since August 2011 - and is up 2.2% YoY (the most since June 2012).
We assume this will be ignored for a data-dependent Fed that needs to keep the easing dream alive (as long as stocks are off the highs)...
As detailed in the breakdown... this is a 2.2% YoY rise
As the details show, inflation is picking up...quickly...
They may end up being right, but they were all way too early.
Activists investors are that special breed of hedge fund managers known for their aggressive forays into situations few others would touch (especially if much, much debt can be issued) usually demanding management, business or board changes. And while sometimes they make a killing thanks to their aggressiveness, other times they themselves are crushed.
Like this time.
"Own Some Solid Currency, In Other Words ... Gold” Warns Faber
“Leave a million dollars with a bank, and in a year, you get only something like $990,000 back,” Marc Faber, respected publisher of the Gloom, Boom & Doom Report, told Bloomberg by phone yesterday.
“I would rather want to own some solid currency, in other words ... gold” warned Faber.