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Strategies & Market Trends : Love shack

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To: Grandk who started this subject	12/4/2000 9:31:21 PM
From: Grandk	of 322

From this evening's "The Contrarian" Job security: 9-1-1 operator passes Series 7 exam. . . The phenomena of 1-800-GETMEOUT is something we have not seen in past cycles. At least not to the extent where so much money is run by organizations that can have money pulled at the drop of a hat. In the old days, a lot of the money was run by investment counseling firms where the clients didn't pull all of the money out instantly. These two icebergs have a lot going on beneath the surface, and they're going to continue to fool people into thinking they're just little ice cubes bobbing on the surface. I mentioned that folks were in denial today, and there has been a fair amount of that. As additional support for that case, I offer the following. The ISI Group recently did a survey noting that of the institutional investors surveyed, 45 percent said we are in a bear market, although 75 percent of the respondents also said that we would get a year-end rally. I guess maybe I should add year-end rally to the list of hooks holding people in place. Since we've been talking about mutual funds, I'd like to point out that I have seen enough stories over the years to develop a sense that there's a large collection of people out there who really don't yet understand that mutual funds own stocks. It's as if people think that mutual funds are some kind of magical CD that makes money in the equity market without their actually owning stocks. One of these days some of these unsophisticated investors may realize how exposed they are to the stock market and that may help precipitate a stampede to get out. siliconinvestor.com They are learning that the market is like a mountain, it doesn't care if you make it to the top or you freeze to death. You respect the mountain, not because it respects you. But because it doesn't know you exist and won't bend to your wishes. And the market is exactly the same way. It doesn't know you and doesn't care what you paid for a price. It is going to do what it is going to do and you have to learn to live with it.

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