Bear Mountain Capital Inc.

Cash as a % of US Stock Market Capitalization

| November 11, 2009

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Let me preface this with saying that I always think that these types of graphs are self-serving for the people in my position. However, it is still interesting data when considering the recent run in equities:

http://fiws.fidelity.com/emails/insight_outlook/download/09_1111_MARE_Still_High.pdf