Stock prices at all time highs, valuations obscene by all historic precedents, cash levels in equity funds? Near 5 year low–about 3%. Indiscriminate buyers willing to part with cash at cyclical (and secular?) highs all in yet?
US Mutual Fund cash balances… pic.twitter.com/d69wWTwvRX
— (((Yield Curve))) (@TenYearNote) January 10, 2017