Reply #47: It's an object lesson in the (temporary) power of smoke & mirrors,

[Ghost Dog]

isn't it.

I wonder how many (of those who can) are cashing out and heading for home (and/or the hills) about now... (*)

Still, if your timing's perfect (and/or your inside info is reliable) you could be picking up several percent per day (in either direction) at this rate.

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(*) UK retail funds suffer record outflows

LONDON (Reuters) - Nervous retail investors pulled record amounts from British funds in January, on concerns about the financial markets, and the sector's overall assets under management shrunk 7 percent from a month earlier.

Net retail outflows jumped to 550 million pounds, up from 377.4 million in December -- the previous record outflow -- the Investment Management Association (IMA) said in a note on Monday.

This compared to net retail inflows of 912 million pounds in January 2007, IMA said.

January's high outflows were driven by record outflows from equities of 867 million pounds, as investors reacted to more stock market volatility.

But outflows from property funds, which have been hit by a slump in confidence amid falling real estate values, slowed dramatically, down to 274 million pounds from 537 million pounds in December. Some funds have invoked clauses making it harder for investors to withdraw their funds.

Overall funds under management in UK-domiciled funds stood at 433.2 billion pounds in January, down from 468 billion pounds in December 2007.

/... http://uk.reuters.com/article/fundsNews/idUKNOA62940720080226