FYI: Mutual fund investors regained much if not all of their losses from the July sell-off as the S&P 500 broke the psychologically significant 2000 level in August.
The stock market powered higher despite fears of Europe falling back into recession, geopolitical conflict, high valuations and uncertainty over the Federal Reserve's interest rates policies. Mutual fund managers are optimistic that the forward-looking stock market is pricing in strong economic growth. In addition, the U.S. remains the best bet given the wild cards in the rest of the world.
Regards,
Ted
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