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Joined Apr 1, 2010
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The Oldest Trick in the Book


Courtesy of Bank of America/Merrill Lynch and @ConvertBond on Twiter, here we have a chart which shows institutions selling since late-June while retail investors are buying.

It does not always lead to disaster when this happens, but considering the S&P 500 has appreciated from 666 to 1698 in just over four years, it should give you some pause.


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  1. Berserker

    Hold on! Isn’t retail supposed to buy high, panic and sell low? What’s your point here?

    Please don’t educate the muppets – they’re useful.

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  2. tigrami

    I couldn’t find anyone on twitter with the handle @ConveryBond. Is that the correct handle/name?

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