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Politics : Ask Michael Burke

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To: double-plus-good who wrote (75781)	2/13/2000 1:19:00 AM
From: Greg Jung	of 132070

When neighbor Marvin Jones decides to sell his underperforming mutual fund and invest aggressively, funds must sell and put it to work in "aggressive growth" ie internet tech, the latest IPO idea, etc. From "old" stocks to, literally, "new" Stocks. The consequence is instant millionaires walking away with the dough as the insiders bail out asap leaving behind business shells and an artifice called "market cap". Small cap techs that were throw-aways have come up very strong, which is possibly the last stage of the mania - lasting for how long, we don't know. As long as the "money" remains in the market cap it is the marginal dollars that determine the price direction - absolute value has no meaning at the moment.

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