In a recent issue of the Report on Business , data was released that shows Canadian investors are heading for the hills!
Shaky stock markets spurred Canadian investors to jump into money market funds with a vengeance in November as industry net sales plunged 31 per cent from a year ago.
Money market funds made up more than the $1.8-billion in net sales in November as long-term funds fell into net redemption, according to figures released yesterday by the Investment Funds Institute of Canada (IFIC).
The following might possibly be the most generalized investing quote that I have ever heard. Let me know if you find any substance in it at all?
“People are just reluctant to buy in the midst of capital market instability” in case the funds immediately lose their value, said Frank Hracs, chief economist with Toronto-based Credo Consulting Inc.
Thanks for the tip Frank!
Value Investing Wisdom Says:
Be fearful when others are greedy and greedy when others are fearful.
Have any of you been moving to a cash position?
I just moved some of my cash into Real Estate.