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Need to Know: Get ready for an historic ‘fiscal shock’ as the Dow sets up for another run at 20,000

The “smart money” is in la-la land when it comes to this aging bull.

That’s the conclusion any market bear would have to reach after seeing our chart of the day, which illustrates just how unattractive the prospect of hoarding cash has become for fund managers lately.

Callum Thomas, who posted the Deutsche Bank visual on his Topdown Charts blog, explains that there are a couple ways of looking at this recent trend of putting cash in play.

“When you see a chart showing the average cash holdings of U.S. mutual funds dropping towards a five-year low, it makes you think the smart money is confident in the market,” Callum Thomas, wrote in a blog post.

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