The data from the Investment Company Institute shows retail investors have missed most of the move in the equity market – they still own too many bonds. Equities have plenty of upside until the retail investor comes back into the market and buys stocks and mutual funds aggressively. The following chart by Yardeni.com illustrates that equity mutual funds remain severely underweighted relative to bond funds. Jeb Terry, Sr. Apr. 22, 2011
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