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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (114329)7/24/2001 7:57:29 PM
From: Giordano Bruno  Read Replies (1) of 436258
 
Prudent bear's take on todays utility action...

Various rumors were going around, however, of one particularly large mutual fund liquidating utility shares that they had tried to “hide in” in order to raise cash for redemptions. As the old saying goes: when you need to raise cash, you sell what you can and not what you want to. Should large funds be finally forced to raise cash for redemptions in a somewhat “disorderly manner” a move like the utilities had today will be a walk in the park compared to what the popular averages will see, which is where most of the big funds are concentrated.
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