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Strategies & Market Trends : Sharck Soup
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To: Softechie who wrote (35953)9/22/2001 10:52:31 AM
From: kendall harmon   of 37746
 
Who is Selling?
"There's been a lot of concern on Wall Street about redemptions by mutual fund investors. The reality, however, is there's been very little in the way of redemptions by mutual fund investors. Most of the selling is actually Wall Street professionals who are much more psychologically impacted by the events of last week than Main Street America."
Moon: In fact, Biderman says, while Wall Street was panicking, the mutual funds that were cashed in over a three-day period this week could be viewed as a drop in the bucket.

Biderman: "We've seen outflows of about $9.4 billion from equity funds. Since there's over $4 trillion in equity funds, that's really quite a small amount - much less, it wouldn't make the top ten of big outflow days."

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