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Mutual Fund Investors Selling U.S., Buying Foreign

Ken Hoover, Investor's Business Daily, reports that "Mutual fund investors don't seem to have much faith in the U.S. stock market these days. Despite a smart rally -- the S&P 500 is up 7.3% since its Oct. 13 low -- money has been coming out of U.S. stock funds." And, he adds, "Investors have pulled a net $500 million out of U.S. stock funds since August, according to the Investment Company Institute and TrimTabs. During the same period they've shoveled $60.9 billion into international funds, which have been performing better." Details, including an interesting chart entitled "Going the Wrong Way," can be found in the article from Investor's Business Daily via Yahoo Finance.