Small Investors Are So Bullish, The Last Time They Held This Little Cash Was March 2000

Pretty remarkable the disdain small investors have for cash, but then, with bonds (up until recently) providing nice capital appreciation, and stocks rebounding nicely as well, why would you hold greenbacks?

The AAI’s November poll — via PragCap — has the gory details.

Cash allocations fell 1.8 percentage points to 15.9%. This is the lowest amount of portfolio dollars held in cash since March 2000, when stock allocations reached 77%. The historical average is 25%.”

March of 2000, of course, was the peak of the internet bubble.


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