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Technology Stocks : Dell Technologies Inc.

DELL 133.20

+5.7%

Nov 26 3:59 PM EST

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To: t2 who wrote (167710)	11/1/2001 8:02:13 AM
From: GVTucker	Read Replies (1) of 176387

NewVision, RE: He seems to suggest that most mutual funds also have the October 31 year end, which coincides with the selling for tax reasons for this year. Except very, very few mutual funds care about taxes. Almost every mutual fund manager is compensated based upon A) how large his fund is and B) what his performance is. Taxes don't enter into the equation. Yes, there are some tax conscious funds out there, but they are a minor speck right now in the mutual fund universe. In addition, the other large pools of cash in the institutional universe doesn't care about taxes because there aren't any for them--pension funds and endowments. Tax selling is an important issue for sure, but it is most relevant for smaller cap stocks that are heavily owned by individuals. In this case, the tax selling hasn't even started yet. His point was that investors are reluctant to put money into stocks until after the end of October because people have gotten hit with capital gains when jumping into the funds in October. That is a good point, although I doubt that there are too many capital gains in the mutual fund world this year.

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