Mom and Pop Finally Join Pros in Dumping Stocks
- Cash holdings at retail brokerage jumps the most since 2015
- Hedge fund equity exposure keeps falling with tech shares sold
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Main street and Wall Street are finally seeing eye to eye when it comes to stock investing.
After going all in on equities for most of the year, individual investors just bailed amid the October sell-off, raising cash at the fastest pace in three years, according to data from Charles Schwab Corp. Meanwhile, Goldman Sachs data showed hedge funds kept trimming stocks, with clients’ net exposure falling to the lowest level since November 2016.