“Where the money is going is into global and international diversified funds, ... It's really not the type of fund to invest in if you want diversification.”
“One of the things we've been puzzling over here in the U.S. is that people haven't been dancing in the streets as the S&P 500 and Nasdaq hit new four-year highs.”
“They tend to hold investment grade paper, no junk, and they more often than not tend to have a fairly heavy exposure in the Treasury market which has no risk of default.”
