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Investor Fund Flows Have Never Been This Bearish Since Lehman Collapsed Vincent Fernando, CFA Jun. 6, 2010, 8:45 AM It's a bit of a surprise that stocks didn't fall further. The last four weeks were actually the worst 1-month outflows since Lehman collapsed in 2008, as shown below in red: From a fund flow perspective, investors in mutual funds have now pulled money out of U.S. stocks during 2008, 2009, and now year-to-date in 2010. To us this should be read as a substantial contrarian indicator. The investor panic was enormous during the last four weeks, and on a multi-year...

While Russian financiers are proudly reporting about capital influx to the country, their foreign colleagues are calculating outflow of funds from Russia. It has been reported recently that Russians have placed $219.6bn on banks’ deposits abroad, which considerably exceeds deposits with domestic banks as well as the annual budget of the RF. If so, who are the people placing a quarter of Russian GDP on outlandish accounts? Experts say, many accounts are opened by particular firms operating only to disguise the richest Russians. Funds are rapidly leaving the country: the amount of Russian capital in foreign banks, compared to the...