Investors still hold more than $3.6 trillion of their assets in money-market funds, equal to about 30 percent of the total market capitalization of U.S. companies, according to data compiled by the Washington-based Investment Company Institute and Bloomberg. That’s double the percentage when the S&P 500 reached its all-time high in October 2007, the data show.
::Bloomberg

…but…

There’s always a real risk that a rally is going to be tested. Investors are thinking that giving up some upside to hedge the downside is a very reasonable investment profile.
Stephen Wood, chief market strategist for North America at Russell Investments, $151.8 billion in assets under management as of June 30

This downturn has changed the way marketers think about spending, if not forever, then at least for a very long while. Clients are not going back to the way they spent.
—Andy Donchin

If scatter prices go to a premium, we have no problem taking our money elsewhere. Look at all the options we have.
—Rob Master, Unilever’s director of media for North America

::via WSJ

Tynt
Attributor

When you have these rapid increases, almost without correction, you will definitely have a correction at some point, so we can expect a lot of volatility….[Investors will be] selling to take up new stocks, that will impact the prices…It may not be all at once, you may not see a decrease of 20 percent suddenly, it could be 10 percent here, and a rise of 5 percent then another 10 percent, you’ll see this kind of volatility in the markets.
Mark Mobius

I want people to get lost in the work. I want to seduce people into it and I want people to escape inside the world of the work. In that way the work is pre-Modernist. I throw all of my obsessions and loves into the work, and I try not to be too embarrassed about any of it. I love nature, I love gardening, I love watching birds, and all of that gets into the work. I just try to be true to who I am and make the work I want to see. I don’t have a radical agenda.
Fred Tomaselli

Why did no one see the crisis coming?

Queen Elizabeth, regarding the financial crisis

early alliance materials

Thaler on “The Price is Right” and “No Free Lunch” – EMH challenges

wow – when blue-bloods get weird

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