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To: tahoeman who wrote (15677)1/1/2001 2:23:45 PM
From: onurbius  Respond to of 24042
 
"Sideline cash at U.S. equity funds is up big time. As we have previously reported, all of
the new inflow into U.S. equity funds -- estimated at $90 billion since August -- has not
been invested. In fact, we expect the ICI to report this week that cash on hand at US
equity funds at the end of November has topped 6.5%.

In December, many fund investors hold off investing until after taxable capital gains are
distributed. Also December is the biggest month for withholding tax payments, meaning
many employees get year-end bonuses and the like.

That new money in December has not gone into the market yet.

Where it has gone is into cash. "

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