Not like this will come as a surprise to anyone in the aftermath of last
week's abysmal FaceBook IPO which pretty much killed all retail interest in
equity markets, but in the last week, the "dumb" retail investor pulled another
$3.5 billion out of domestic stocks per ICI, bringing
the total tally to 13 consecutive weeks of outflows, 52 weeks of
outflows in the past 56 weeks, with redemptions amounting to $46
billion in 2012, compared to just $6.5 billion for the same period in 2011.
Algo-matic, the 20 remaining Primary Dealers and whatever hedge funds are left
can pass hot grenades amongst each other: the retail money (RIP) has found other
ways to amuse itself.
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