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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.
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To: Monty Lenard who wrote (1651)4/24/2000 7:17:00 PM
From: James F. Hopkins  Read Replies (1) of 2103
 
Hi Monty; Bought my first bit of thrgx on the drop today,
about a 1/4th position. Also took on a small bit of
BPEQX ..and a crazy stock I don't know anything about
except insiders have been buying ( AKLM ).
I'm not sure this is the bottom for the market yet
as hard as MSFT is getting hit a lot of so called
reserves have suffered real damage.
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I think what a lot of people don't consider the shape
of pension funds who use stock certificates as
a reserve pool. They have outflows on a regular basis
and at some point when the market don't go up they have
to use the inflows to cut retirement checks, I don't
know where the next point is to where they are forced
to sell stocks to cut checks.
I'm reasonable sure before that happens they borrow money from a bank to make the checks, using stock as colateral..it's a form of margin but not the broker type ..banks watch the value of that collateral and can call the loan if it gets to low..no one paid much mind to Orange County two years ago,
I wonder what school teachers will think
if they find out their pension fund is in hock and going
broke.
-------------
PS
Looking at THRGX his favoret stocks were down about 6 to
8% today..but the fund only droped 1% so that tells me
he's still holding a high amount of cash.
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