Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: JustTradeEm who wrote (12904)	12/13/2001 2:15:36 AM
From: Dave B	Read Replies (1) of 99280

JB A Contrarian Perspective on the Trillions of Dollars in Money Market Funds In March of 2000, I took a taxi from the Phoenix airport to my hotel. On my way there, the cab driver was giving me stock tips. He knew he needed to get into the market, but "alla my wife woulda let me do was two tousand dollahs. I say to her, 'what am I gonna do with two tousand dollahs; I gotta have at least six tousand dollahs'" (the accent isn't exactly right, but it's close, and those were the exact dollar amounts he quoted). My guess is that whatever money that cab driver has left will never, ever go into the market again; I'll bet he'll be happy just getting his couple of percent (guaranteed!) on his savings in a money market account. I don't know what the magnitude of the dollars would be, but I'll bet that there are a lot of people out there who got burned by their stock and mutual funds holdings and, rather than waiting for a good time to get back in, have turned their backs on the market completely. For many, a couple of guaranteed points in the bank beats a sharp stick in the eye. Dave

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