The table essentially displays the fact that the mutual funds receiving the most net new money in this country have the heaviest allocations to technology stocks. Of course not, but there can be an attempt to reallocate violently. If ever there was a time, this just may be it. We have virtually all of the ingredients. The 1-800 number mutual fund redemption infrastructure is in place.
Overvaluation is still at record levels.
Margin debt is revealing its dark side very early in the game. We could go on and on. The fact is that outright crashes are very low probability events set against total historical retrospective. Even for us, it's hard to make that bet. We're not going to make 50 or 100x's our money.