The Retail Investor Is Selling. A Buy Signal?

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Today the Investment Company Institute, the mutual fund lobby, reported: "Long-term funds—stock, bond, and hybrid funds—had a net outflow of $36.78 billion in August, vs. an outflow of $21.26 billion in July." Year-to-date: $25 billion has been yanked out of equity funds. Seriously. Is this a buy signal? Anyone have any thoughts?

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