Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Mike McFarland who wrote (14756)	3/7/1998 3:00:00 PM
From: Michael Bakunin	Read Replies (1) of 94695

A bull market is one people are afraid to be out of, for fear of not making money. A bear market is one people are afraid to be in, for fear of losing money. The only fear I smell these days comes off of active managers trailing the S&P 500. The CPQ announcement might turn this around, but that's what they said about MOT. The 'little people' seem to be cashing in at least a few chips; for the wealth effect to exist, you have to sell, or at least spend cash you would otherwise have invested. Maybe they aren't so foolish, after all. mb

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