Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Monty Lenard who wrote (24749)	8/20/1998 8:19:00 PM
From: Tommaso	Read Replies (1) of 94695

Cash inflows to equity mutual funds are firm: amgdata.com (click on "NEWS" for latest) This could reflect the renewed hope that sent the market up strongly for two straight days; no way to know just what happened today. But as yet, no fear. No reason to expect an immediate market collapse, and some reason for shorts to be cautious. It may be paranoid of me, but the credit situation seems so perilous that I am borrowing the maximum from a whole-life policy (at a fixed 5% interest) and simply putting the money in an FDIC-insured account. Banks should be OK no matter what, but insurance companies could have problems with bad loans. I guess treasury bills might be even better. This is the equivalent of putting away gold-backed U. S. currency in a safe deposit box in 1929. The people at the insurance company behaved as if I were selling my soul to the devil--so maybe they are worried about a sudden capital shortage. (I did not explain my reasons to them, not wishing to reveal my lunacy.)

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