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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: accountclosed who wrote (81108)12/25/1999 12:35:00 PM
From: Thomas M.  Read Replies (2) of 86076
 
(from Barron's)

"In my opinion, it's like a bubble. You can only put so much air into it before it
bursts," says Peter DaPuzzo, president of Cantor Fitzgerald. "You can't
underestimate day-traders and aggressive money-managers. I truly think I'm
seeing the tail wagging the dog."

Adds Darcy MacLaren, director of equity research at Safeco Asset
Management: "It's an amateur's market and they're winning. They just don't do
the math."

In the last year, tech has gone from 18.9% to 29.9% of the S&P 500!!!
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