Amer­i­cans may have given up on eq­ui­ties, pulling $380 bil­lion out over the past five years.

Austin American-Statesman - - BUSINESS - By Bernard Con­don Stocks

NEW YORK — An­drew Neitlich is the last per­son you’d ex­pect to be rat­tled by the stock mar­ket.

He once worked as a fi­nan­cial an­a­lyst choos­ing stocks for a mu­tual fund. He has hud­dled with dozens of CEOs in his cur­rent ca­reer as an ex­ec­u­tive coach. Dur­ing the dot-com crash 12 years ago, he kept his wits and did not sell. But he’s sell­ing now. “You have to trust your government. You have to trust other gov­ern­ments. You have to trust Wall Street,” said Neitlich, 47. “And I don’t trust any of th­ese.”

De­fy­ing decades of in­vest­ment his­tory, or­di­nary Amer­i­cans are sell­ing stocks for a fifth year in a row. The sell­ing has not let up de­spite un­prece­dented mea­sures by the Fed­eral Re­serve to per­suade peo­ple to buy and the come­hither al­lure of a lev­i­tat­ing mar­ket. Stock prices have dou­bled from March 2009, their low point dur­ing the re­ces­sion.

It’s the first time or­di­nary folks have sold dur­ing a sus­tained bull mar­ket since rel­e­vant records were first kept dur­ing World War II, an ex­am­i­na­tion by the As­so­ci­ated Press has found. The AP an­a­lyzed money flow­ing into and out of stock funds of all kinds,

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