What’s Up with TINA?

Check out the accompanying pdf and chart collection. (1) “TINA” isn’t the only acronym in town. (2) Big inflows into equity ETFs. (3) Big outflows from equity mutual funds. (4) A couple of extra trillion dollars here and there. (5) Lots of excess saving. (6) Bond funds having more fun. (7) The Fed taketh away. (8) Tapering around the corner. (9) From FAAMGs to GAMMAs. (10) Excluding GAMMAs, S&P 500 forward P/E more reasonable. (11) Smith, Marx, Schumpeter, Keynes, and Samuelson: What they got wrong.