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To: The Ox who wrote (14172)	1/10/2001 3:08:32 PM
From: drsvelte	Read Replies (2) \| Respond to of 14427

Stopped out of OAKT in December. AHAA! Michael, why do you prefer AHAA to RFMD or TQNT?

To: The Ox who wrote (14172)	1/10/2001 3:08:49 PM
From: SJS	Respond to of 14427

Mike.....and all. Hello folks! Hope everyone is well. I posted some info on the AMCC thread related to the comm IC guys and prospects for earnings and guidance. If you're interested, here it is: Message 15156935 As well, here is some news on "sidelined cash" from Merrill Lynch, today: Merrill Lynch > > Mutual Funds > * We believe there is at least $600 billion, or 5% of current market capitalization, sitting on the sidelines waiting to enter the marketplace. However, it is not in the hands of portfolio managers as many people expect. The high average cash levels that have been reported have been > caused by 2 things: year end distributions and total net asset values dramatically decreasing at these funds. If we look at the absolute dollars from Aug 2000 to today, there is only an additional $60 billion available in portfolio managers hands. > * We believe the real demand in investors liquidity is in money market funds. Typically money market funds represent 23% of total mutual fund assets; today it is over 27%. If this level returns to 23%, this represents over $600 billion, or over 10x the amount that is available to > portfolio managers today. > * In addition, when looking at the increase of CDs at banks and the proliferation of brokerage owned banks, this could account for an additional $200 billion. > * Also January is typically the strongest net flow month with a 5 year average flow of $20 billion as 401K receive large inflows. > * The key is what catalyst gets this money to be reinvested. When the Fed made its first 50 bp interest rate cut this month, $21 billion, a record flow, occurred in less than 1 day. However as the market has pulled back, > the money has head to the sidelines again. We do not believe another 50bp cut will be enough of a catalyst, but we believe if we could get a sustained rally there could be $600 billion-$1 trillion of demand ready to come in the market place.