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Published on Gold Anti-Trust Action Committee (http://gata.org)

Pam and Russ Martens: Stock mutual funds have net outflows for 25 weeks, totaling record $388.7 billion

By cpowell
Created 2020-10-16 15:47

By Pam and Russ Martens
Wall Street on Parade
Friday, October 16, 2020

Refinitiv Lipper, which has been tracking mutual fund flows for the past 18 years, reports that for the week ended Wednesday, October 14, equity (stock) mutual funds marked their 25th week of net negative outflows, losing $8.6 billion for the week.

Year to date that brings their net outflows to $388.7 billion. Refinitiv Lipper notes that if that figure stands, it will be the "largest annual net outflows ever, significantly outdistancing last year's net negative result ($294.0 billion)."

... Dispatch continues below ...


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Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4 [1]

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant... [2]



That's a pretty historic achievement given that the U.S. had the worst stock market freak-out since the Great Depression in 2008 and early 2009. The S&P 500 Index lost 56.8 percent from October 9, 2007. to March 9, 2009.

What raises further alarm bells about the steady outflow from stock mutual funds this year is that for the past 9 1/2 months there has been new money flowing into 401(k) plans from employees who have the money automatically deducted from their paychecks and sent along to their 401(k)s. Since stock-based Exchange Traded Funds (ETFs) have barely cracked the 401k market, it's the stock mutual funds in 401ks that should have been the big beneficiaries of this money -- and yet they are still seeing historic net outflows of money.

So where is the money going if not into stocks?

It's quite possible that folks in 401ks have switched to a more conservative posture by moving out of stock funds and into money market funds in their 401ks. Refinitiv Lipper reports that money market funds had net outflows for the 12th straight week as of October 14 but still show positive inflows of $687 billion year-to-date. ...

... For the remainder of the report:

https://wallstreetonparade.com/2020/10/stock-mutual-funds-have-had-net-o... [3]

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Monday-Wednesday, November 2-4, 2020

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Wednesday-Thursday, November 11-12, 2020

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Source URL:
http://gata.org/node/20584