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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: engineer who wrote (45400)	10/20/1999 10:42:00 AM
From: 16yearcycle	Respond to of 152472

That's funny, engineer. I had been thinking that this month would be a poor one because there would be forced selling for the reasons you describe. I recall Gregg's post about selling in the early summer because he had to. Thanks.

To: engineer who wrote (45400)	10/20/1999 11:15:00 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 152472

>> Since they are mandated to be at 20% for communications stocks, they MUST sell off QCOM Engineer, my memory may be faulty, but I thought I remembered Greg saying that since the position had grown into >20%, he was not obligated to sell it, but did so because it was in line with his investors' wishes. I'll look through his posts tonight to confirm. If true, this subtle difference would mean the fund managers are electing to sell off some Q as this feel it is fully valued. They would be wrong, of course <g>. uf

To: engineer who wrote (45400)	10/20/1999 11:30:00 AM
From: quartersawyer	Read Replies (1) \| Respond to of 152472

Engineer- what's your opinion of this screen for handheld devices? kopin.com Your fund sales rationale is certainly in play, and we can expect to see pressure from individual investors starting next Spring as long term tax rates take effect.

To: engineer who wrote (45400)	10/20/1999 12:05:00 PM
From: Jordan Levitt	Respond to of 152472

Engineer, It is not only rebalancing that forces Mfund managers to sell Qcom and others. These guys get paid based on annual performance, and a lot of them are trying lock-in gains (and losses to help manage tax distributions) in order to publish good #'s. Also these guys are forced to manage the net inflows and redemptions faced by their funds. Just try to guess where they go to sell in order to meet these redemptions; that's right, the most liquid, fasest growing positions. Interestingly, this is one of the biggest problems with Mfunds. The greatest inflows occur when the market is hot, and manager must either buy high or hold high cash levels( which are a drag on performance). Conversely, when the market corrects the mfund manager is faced with redemptions, and must sell low. There is a constant cycle of buying high and selling low. Doesn't seem right does it.