funds cannot be holding cash all the time. They have to invest. Funds manipulate the market scaring out the weak hands then scooping up mos aapl mcd orcl pot exc ngg cmg ebay etc etc for cheap. everyone panics and they then next day a 300 point rally followed by 4 more days of 200 point rallies and everyone misses it but the mutual funds who make a fortune cause they can afford to hang in during selloffs and even buy more. All of a sudden everyone wants pot and mos yada yada and back to 50.