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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Casaubon who wrote (42456)	7/29/1999 5:58:00 PM
From: pater tenebrarum	Respond to of 94695

This cavalier attitude you describe is the greatest nemesis of this market...i wonder how big a decline must get to induce people to panic. i guess they will, at some point. the bull market's longevity has actually sown the seeds for a devastating bear market at some time in the future due to the enormous degree of public participation it has fostered. the virtuous circle of money flows into mutual funds will ultimately lead to a vicious circle of redemptions. this is also the reason why i am still bullish on Japan, because the cycle of money flows seems to have started afresh there. at the end of last year only 9% of Japan's households were invested in the stock market. regards, hb