PIMCO lost the mantle of the largest fund as capital withdrawals reached $38 billion this year as money moves to equities. The largest fund is now Vanguard. This is part of the cycle shift. While there is likely coming a near-term correction, everything is still pointing to capital flight from bonds and banks into equities. If you are European, who have to be crazy not to buy the US share market given the value of the Euro, the pending bail-ins, and the proposed IMF confiscation of 10% of all deposits to pay for the failed Euro and banks. This is the same shift we saw in the 1929 bull market.
