not surprised.... retail dumb money all think alike. this equity run has no end in sight without much retail participation.
Mutual funds are like dinosaurs. With ETFs with low fees and diversification, why invest in a mutual fund where majority of funds cannot even beat the indexes? There is a lot of mutual funds in 401k's where they take your monies but, restrict you transferring even among the funds to 4 times a year? Can you believe that BS? With the huge volatility in the stock market, you should at a minimum be able to move your funds in and out of mutual funds if needed. I have rolled my 401Ks to IRAs with a broker. I can pretty much buy what I want be it stocks, ETFs, options, etc. to better manage my funds.