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Technology Stocks : America On-Line (AOL)
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To: Cosmo Daisey who wrote (2936)1/19/1999 7:51:00 PM
From: Keith Howells  Read Replies (1) of 41369
 
Cosmo,
I agree that lots of folks are already in but there are also a substantial number that aren't. I think that there are a lot of people who invest based upon what some of the largest and best run funds do. Magellan certainly qualifies as one of the biggest, and ever since the management change a while ago, has really come back as one of the best run. Let's watch and see what happens over the next couple of days. It will be especially interesting to see what happens tomorrow morning.

Keep in mind too that #1 in Magellan's holdings is GE, but more importantly, #2 is MSFT. They went up almost 6 points today and are the company with the largest market cap period at 388 billion. That makes them 5 1/2 times as big as AOL. I would think that if the "who is left to buy" argument is valid, it would certainly be true with the absolute largest company in the market.
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