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To: 91fxrs who wrote (2507)	10/21/1999 10:22:00 PM
From: Andreas	Respond to of 2818

What happenned at the so-called Morgan Stanley town hall meeting with UIS which was scheduled for today?

To: 91fxrs who wrote (2507)	10/21/1999 10:46:00 PM
From: The Duke of URL©	Respond to of 2818

Excellent question and I am going to guess, in the hopes that the answer might be augmented. All the large, old funds have mostly a fiscal year of October 31, or maybe even September 30. In order that the fund had the time (pre wide spread computer use) to calculate the k-1 in advance of the investor calendar year, Dec 31. Any fund formed after 1986 probably has to have a Dec 31 fiscal (calendar) year. IF this is correct then the October Fest that we are treated to is as a result of funds selling their loosers to trigger the loss mostly in October.

To: 91fxrs who wrote (2507)	10/22/1999 5:56:00 AM
From: Greg Jung	Read Replies (1) \| Respond to of 2818

I think, maybe, mutual funds may need to take losses for this year by end of Oct. Then the unpopular stocks get hit again later in the year. I think there's a volatility cycle: profit-taking from rebound schemes snowballs into more giving up the ghost, sometimes a large holder simply figures to take the loss and not play the "best offer" games: heavily into margin from soaking up all the "no-brainer" bargains, sometimes you just need cash. Then another bargain hunt cycle ensues. The valuations of the S&P leaders are so high, however, I think any correction that is meaningful fundamentally will break the technical patterns. I suppose today we get KO, G smashed up a bit but the dow cowboys will find another effigy to run up the pole.