Quote from article:
"All told, a net $444 billion was pulled out of the U.S. equity funds and ETFs over the past decade. During that period, the S&P 500 produced a cumulative total return of 257%, equivalent to 13.6% annualized."
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Later in the article:
"They found that mutual fund inflows have, at most, only a temporary impact on the stock market. That is just another way of saying that their impact is quickly reversed. How quickly? Within 10 trading days."
The data is from the end of year. Other than an anomaly from what folks want to see I'm not sure what the authors point is.
ETA: More information, statistics, and fun about the mutual fund industry can be found here:https://www.ici.org/
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