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The Business Insider: The Money Game Goldman says an under-the-radar driver is signaling further upside in stocks — one not driven by retail investors
  • "Investment flows are an important driver of equity returns," according to Goldman Sachs, and right now they're signaling further upside ahead for the stock market.
  • In a note published on Thursday, Goldman went under the hood of the stock market and analyzed the impact fund flows, or the actual trading of securities, had on security prices.
  • The firm found that fund flows can have a sizable impact on market prices if liquidity is especially low, and not so much if liquidity is high.
  • Additionally, Goldman said that the the recent rise of individual investors amid the COVID-19 pandemic has been associated with declines in the stock market, not gains.
  • Visit Business Insider's homepage for more stories

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