Mutual Fund Flows Update
Are Equity Levels Below The Public’s Breakeven Point? Decision Time For Stock Fund Investors
The public’s unrealized profits have remained above their average cost level since October 1990. Now these profits may be gone for the first time in 12 years. If so, this means the “average” stock investor is now holding only his original investment and is facing his/her most important decision since the bear market began in the spring of 2000. Do they sell and “cut their losses” or continue to hold and “believe” in the stock market?

Tables updated through August 31, 2002 with data released September 28, 2002. Comments on Stock Funds, Bond Funds and Hybrid Funds.