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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: art hebert who wrote (2289)9/29/1998 12:48:00 AM
From: kas1   of 4509
 
art,

index funds usually don't hold an exact replica of the index -- they go for an approximate rendering. as long as they're turning in the same numbers as the index, no one cares how they do it. so they don't all have to buy on friday. they don't even have to buy the stock at all, technically speaking, as long as they are sure that doing so won't endanger tracking the index's performance.

as for your prediction of $45 based on sp500 inclusion alone... well, that's about a 50% gain... i'm sure we'll get to 45 sooner rather than later, but i don't think the sp500 inclusion will be good for more than just a couple of points, and even that temporarily (who knows how much of the jump up is the index funds, and how much is the people trying to get in front of the index funds).
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