J.P. Morgan's Gatch says investors panicking

“Investing should not be gambling,” Mr. Gatch, the keynote speaker at the conference, told about 500 attendees. Mr. Gatch said that between 2006 and mid-March of 2012, unprecedented volatility in markets has spurred inflows of $1.1 trillion into fixed income. Equities and ETFs, on the other hand, have only had $221 billion in inflows during the same period.

He said the result is that investors' portfolios are unbalanced, and told his audience that investors need to diversify back into equities and alternatives."