93% of investors lost money in January

Stock markets and investors - Lost money most of the time in January 2016

If you played the stock market in January you probably lost money.

Investment tracking app Openfolio tells CNNMoney that 93% of investors were in the red in January.

The company says the stock market crash in China, a strong US dollar, and slipping oil prices, all contributed to the Dow closing down 5.5% on the month, its largest drop since August 2015.

While the Dow closed down 5.5%, the average investor lost 6.3% in their portfolio.

Investors who switched their strategy to cash holdings managed to make money. Openfolio says those who made money in January held an average of 19% in cash, compared with 9% for those who lost money.

Investors pulled $2.9 billion from US stocks last week, the seventh week of outflows in the last eight, according to Bank of America Merrill Lynch.

Emerging markets have lost $1.2 billion during their 13th straight week of outflows.

Investors are fleeing to municipal bonds which have enjoyed 19 straight weeks of inflows, BofA said.

Dow Concludes Worst 1st Quarter in 124-Year History

Here’s a somewhat cheery bit of news for investors. A 6.3% loss still beat the Nasdaq which fell nearly 8%.

Despite a disappointing January, CFOs at some of the country’s largest companies are still forecasting a positive economic outlook in 2016, according to Deloitte’s Q4:2015 CFO Survey.

Written by Jeff Springer

Jeff Springer

Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated.