Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (14273)	2/22/1998 4:28:00 PM
From: Tommaso	Read Replies (1) of 94695

No equity fund could report a money market fund as part of its cash position. That would be a separate fund. The less-than-5% figure has to do with cash balances in equity funds. The minute more than 5% of the fund is redeemed it will be forced to sell stock, though now it seems some funds have credit lines to borrow against for meeting redemptions. Just one more source of instability. Actually what I have admitted could serve as a source of investment money--the rising money market funds--could equally well be seen as incipient caution on the part of individual investors.

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