[video] Quick Take: Midday Recap
NEW YORK (TheStreet) -- At midday, all three major indices were essentially flat and TheStreet's Debra Borchardt was with Alan Valdes of DME Securities discussing equities.
$45 billion went into stock-based mutual funds in October, a number not seen since the dot-com bust in the early 2000s.
But according to Valdes, it's not that surprising considering the S&P 500 is up 24% this year.
While he admitted that the market was starting to feel "bubbly," Valdes said he wouldn't be concerned until bond fund inflows turn to outflows, and moved into the stock market.
Borchardt noted that even if the amount of inflows decreased by 50% for November and December, it would still be a record year in terms of stock-based mutual fund inflows.
Right now, there's nowhere left for investors to go aside from equities, he added.
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