Foreign investors are piling into US stocks: Non-US investors have bought +22 billion of US stocks so far in October, the most since June, according to Goldman Sachs estimates. This marks the 3rd consecutive monthly inflow. Year-to-date, foreign investors have acquired +316 billion of US equities on net. Meanwhile, foreign holdings of US equities rose to a record 20 trillion last quarter. Everyone wants to enter the US stock market.(The Kobeissi Letter)