I just got off the phone to a guy I went to Uni with who now works for a fund manager. They are selling BBI and I asked why? The answer was straight to the point and simple. REDEMPTIONS. Clients want cash, so everything gets sold in proportion to its weighting in the portfolio. No ifs, no buts, just SELL. He said he has never seen this much fear from clients. The common theme is "Just get me out. I want cash".
BBI Price at posting:
4.9¢ Sentiment: LT Buy Disclosure: Held
