Investors strip most cash in four years from US domestic stock funds

Investors are slimming down equity stakes bloated by a nearly decade-long bull market, withdrawing $22 billion from US domestic stock funds in a single week, Investment Company Institute (ICI) data showed on Wednesday. The withdrawal, during the holiday-shortened week ended January 3, marked the largest weekly retreat from the US-based domestic stock funds in nearly four years, according to the trade group.
A growing chorus of investors, including GMO LLC co-founder Jeremy Grantham, are saying the market is in a "melt-up," as prices start to be driven up irrationally by investors fearing they are missing out on strong profits. The S&P 500 has more than tripled since its 2009 low.