Active fund managers in the U.S. and Europe have slashed their equity holdings.
A poor showing by value has been a key driver of the poor returns.
Market turnover is through the roof, reaching multi-year highs.
The bull market keeps staggering along despite cracks forming under the surface.
Outflows from two leading value ETFs portend slowdown worries.
Funds tracked by Credit Suisse have reduced equity exposure by 10 percent.
There are enough signs of weakness to support a bear’s case against value stocks.
Between buybacks, dividends, and mergers, companies are poised to plow $2.5 trillion into the stock market.
Outsized moves are challenging bank and investment firm risk measures.
Assets housed in global ETPs will more than double over the next seven years, one industry executive predicted.