Bankruptcy

$72 Billion Pulled Out of Funds in a Month

By J. Michael McBride

With the market in the position that it is in now, many people have succumbed to make decisions with great haste. Of course fear drops into the picture of every share holder’s mind and over the course of the last couple of months it has lead to the impetuous pluck of over 72 billion dollars in September alone. “People are scared,” Conrad Gann, TrimTabs’ chief operating officer, explained in an interview. “This market is different from what we have ever seen before.” Shareholders pulled $43.5 billion from stock funds and $28.8 billion from bond funds. The market is running its course just like a bad head cold. It will revive itself, especially with how severely it has plummeted in this short amount of time.

You can read the full article:
http://www.star-telegram.com/business/story/964817.html

Angela

Full post as published by Texas Lawyer Blog on October 17, 2008 (boomark / email).