According to the WSJ, a multitude of large investors have missed this stock market rally. And we are not talking about the recent rally (or lack thereof), but the rally since the 2009 bottom. Big Investors Missed Stock Rally
The institutions, ranging from large corporations such as General Motors Co.GM +0.07% to big universities such as Harvard, have been shifting to hedge funds, private equity and venture capital. But while these alternative investments outpaced stocks during 2008’s market meltdown and are seen as potentially less volatile, they have badly lagged behind the S&P 500 since 2009, a period in which U.S. stock indexes have more than doubled.
If you actively participate in financial market this shouldn’t surprise you. After all, it is the human beings in those organizations who make the final investment decisions. That makes their thoughts, feelings, emotions and decision making processes identical to almost everyone else on Wall Street. It would only be appropriate if they make the same mistake.
Shocking Truth: The Smart Money Has Missed This Stock Market Rally. Google