HOUSE_OVERSIGHT_031136.txt

The document discusses the warning that smart money is fleeing US stocks due to concerns about valuations and low earnings growth. Key people mentioned include activist investor Carl Icahn who expresses caution on equities and Bonner & Partners chairman Bill Bonner who explains why the S&P 500 is expensive relative to various measures. The document also mentions a slowdown in announced stock buybacks by companies like Apple Inc. and IBM Corp.