Bloomberg: S&P Rally Slowed by Fastest Cash Depletion Since 1991

Good article by Lynn Thompson on Bloomberg

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUzn_mzqGl.8&pos=4

March 8 (Bloomberg) -- Equity mutual funds are burning through cash at the fastest rate in 18 years, leaving them with the smallest reserves since 2007 in a sign that gains for the Standard & Poor’s 500 Index may slow.

Cash dropped to 3.6 percent of assets from 5.7 percent in January 2009, leaving managers with $172 billion in the quickest decrease since 1991, Investment Company Institute data show. The last time stock managers held such a small proportion was September 2007, a month before the S&P 500 began a 57 percent drop, according to data compiled by Bloomberg.

Lots more at the link.