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Non-Tech : International Game Technology

IGT 16.09

-0.1%

Dec 19 3:59 PM EST

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To: john innis who wrote (45)	11/27/1997 11:11:00 AM
From: Angler	Read Replies (1) of 63

John: Just noticed your comment on Acorn Fund. This year many fund mgrs. have been rotating out of their profitable holdings in order to establish profits earlier for distribution. They have to show a profit for future client interest and management anyway. If the individual stockholders choose to hold on, the fund mgrs. will thereby take their profits for them. Of course, the share price will suffer short term. It's not unusual to see one brokerage house downgrade the same stock another is upgrading on the same day. I often wonder if the the grading changes sometimes occur because of the price activity resulting from fund maneuvers rather than a real economic change? Long term holders ignoring all the ups and downs somehow avoid this and with a good company manage to show ultimate gains over the years. However, this is not to say that a trader wandering in and out of a mobile stock from bottom to top and then into the bottom again won't outshine all who just sit on it. IGT looks good for the New Year. Angler

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