Like summer surfers, stocks have continued to zoom past the dangers. And fund investors are willing to ride it out.
The series of records for stock indexes has been fueled by robust buying from individuals. JPMorgan Chase strategists estimate that net inflows to individual U.S. stocks as well as exchange-traded funds rose to a record of almost $16 billion in July before an additional $13 billion poured in during August—“very high by historical standards, ending a record summer,” the report notes.
Read More: As Investors Jump In, U.S.-Stock Funds Rise 19.3% for the Year