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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.38

-0.5%

Nov 18 3:59 PM EST

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To: Jacob S. Rosenberg who wrote ()	1/18/2000 5:46:00 PM
From: Mighty Mizzou	Read Replies (1) of 77400

Skeptics see wobbly foundation NEW YORK -- As technology stocks soar higher and higher, concern is growing among market observers that mutual fund investing has become little more than a self-fulfilling prophecy built on a shaky house of cards. As investors pile money into the technology sector, momentum investing, investing a stock or a sector simply because it's going up, takes hold. The momentum feeds on itself through word of mouth and the ubiquitous financial media. Consequently, more and more money is targeted for that select group of stocks, pushing them yet higher. Finally, professional fund managers -- who are trained to know better -- are forced to fall in line because their clients will undoubtedly question why the manager has ignored a sector that is outperforming by far all other areas of the market.

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