Olde Hornet
Well-Known Member
Investors have put more money into stocks in the last 5 months than the previous 12 years combined
More money has gone into stock-based funds over the past five months than the previous 12 years combined, according to Bank of America.
www.cnbc.com
The latest wave of market enthusiasm has brought with it a stunning rush of money, in which more of investors’ cash has gone to stock-based funds in the last five months than the previous 12 years combined.
That statistic, from Bank of America, reflects a period in which the Dow Jones Industrial Average has risen more than 26%.
At the same time, the market has undergone some wild trends that included a massive influx to meme stocks such as GameStop and AMC Entertainment Holdings. Trading volume rose 40% in the first quarter from the previous three months, with investors snapping up sectors that performed poorly last year amid hopes for a pronounced economic rebound from the Covid-induced slide in 2020.
Amid the frenzy, some $569 billion has gone to global equity funds since November, compared to $452 billion in the previous 12 years that go back to the beginning of the longest bull market run in history, according to Bank of America’s Chief Investment Strategist Michael Hartnett.