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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (45720)	1/26/2000 8:37:00 AM
From: long-gone	Read Replies (1) of 94695

"They" are afraid, "they" are VERY afraid: Tuesday January 25, 2:45 am Eastern Time SEC Head Warns Mutual Fund Buyers By MARCY GORDON AP Business Writer WASHINGTON (AP) -- It's the kind of TV ad that attracts attention: A tow-truck driver trades stocks online with a big brokerage firm and makes enough money to buy his own island. One person who was watching was the nation's top securities regulator, Arthur Levitt, who publicly criticized such ads last spring, saying they held out unrealistic promises of quick riches. Now Levitt, chairman of the Securities and Exchange Commission, is turning his attention to mutual fund ads that boast triple-digit returns. The ads ``play to people's emotions rather than their intellect,' Levitt said Monday in an interview with The Associated Press. He decried a recent proliferation of advertising by mutual fund companies promsing huge(cont) biz.yahoo.com

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