Jjsirius,
Thanks for that article.
>>>> ......About $257.3 billion was redeemed from stock funds during
the first four months this year. That's up 59 percent from the
$162.3 billion yanked in the same period a year ago, according to
the Investment Company Institute, the industry's trade group.
Offsetting this year's withdrawals were $316.3 billion of
new investments in stock funds. This meant a net $56 billion,
including exchanges from bond and money market funds, went into
stock funds in the four-month period ended April 30, the lowest
net inflow to start a new year since 1995, the ICI reported.
''The redemptions are disturbing if, as some speculate, they
reflect a shortening of people's investing horizon,'' said
Lawrence Lasser, chief executive of Putnam Investments, the fifth-
biggest U.S. fund company......<<<<<
Now that is scarey. I suspect that a strong portion of those increased funds in the hands of individuals were used to play the internets. If that is the case, then with the INTERNETS down so much, there is quite a bit of money in "MONEY HEAVEN" at least on paper.
I just remember when I first started trading in 1996, when I made out huge playing the small/micro caps. With my lack of experience at the time, I then lost a huge amount when the market sold off that summer.
I just feel that there are many inexperienced traders out there, just like me back in 1996, who really only knew how to buy but lacked the
experience as to how and when to sell.
seeya
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