CS,
re: I was quoting Arthur Levitt who was on the Bloomberg morning show two days ago and he was painting his picture as he saw it.
Since he would be a great source for accurate information (ex president of the NYSE) and since the 4% is far more reasonable than the 40% cash on the sidelines - I will stick with my position.
First, Arthur Levitt was Chairman of the SEC (the best ever, IMHO).
Second, I'm guessing, since I didn't see the quote, that he was saying the equity mutual funds were at 4% cash, NOT the percentage of assets in ALL mutual funds. Mutual funds can be equities, they can be bonds, they can be money market, they can be a combination. The managers of equity funds may be 96% invested, but that has nothing to do with the percentage of mutual fund dollars invested in money market vs. equity funds. Get it?
re: But in fairness I will keep an eye open for what you think you saw.
I don't think I saw anything, that's what I read.
The market could go anywhere, I think we all know that. It's summer, it will probably go down before it goes up late fall. And there is always a chance of a complete crash, it happens about once a generation or two, to keep folks honest. I live near the Gulf coast in Florida, I know with 100% certainty that a hurricane will wipe out where I live, some day, some year. So do I sacrifice my lifestyle, or do I take risk that the odds are against it happening in my lifetime?
I can almost guarantee that when a real crash comes, you won't see it coming.
John
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