The Financial Times is reporting that the numbers for 2008 mutual fund flows are in and they are ugly. Investors pulled a net $320 million out of U.S. mutual funds last year, a record.
Investors always sell at the bottom but big numbers are in now way proof that we have reached a bottom. If you like me expect unemployment to go significantly higher, you can't be overly constructive on fund inflows (new money) overall to get stocks going. It is at least a strong indication that expectations are low and many don't care.