"Cash at 18-Year High Makes Stocks a Buy at Leuthold" writes Bloomberg
Bloomberg writes "Cash at 18-Year High Makes Stocks a Buy at Leuthold", which says, "The $8.85 trillion held in cash, bank deposits and money-market funds is equal to 74 percent of the market value of U.S. companies, the highest ratio since 1990, according to Federal Reserve data compiled by Leuthold Group and Bloomberg." Money funds now total $3.8 trillion, according to the most recent ICI statistics, bank deposits total $4.1 trillion, according to the `most recently available Federal Reserve totals, and "cash" (currency and checking accounts) totals $1.2 trillion according to Fed statistics. Note that Crane Data's Peter Crane appeared on CNBC this morning to partially debunk the bullish "Wall of Cash" theory (see News).
