Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bobby beara who wrote (2735)	7/20/1997 12:21:00 AM
From: Richard J. Byrd	of 94695

bob: I looked at Roger Babb's comments you directed me too regarding this market being fed by 401(k) accounts. Roger says that employees will switch funds into MM accounts and out of mutual funds if there is a market drop. I don't think this will happen in any major way. You and Roger are sophisticated investors, but 90% of 401(k) owners don't know the difference beteween a money market fund and a mutual fund, and 99% could not tell you what are any of the investments their 401(k) money is held in. The money just comes out of 100 million paychecks every week and goes into these funds and their managers just have to buy securities and up the market goes. Dick

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