Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (88692)	1/20/2001 5:31:14 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Turns out my thinking isn't unique <G>: siliconinvestor.com "Billions of dollars flowed back into stocks in December when Fidelity's Magellan Fund, the world's largest mutual fund with $93.07 billion in assets, cut its cash holding from 8.9 percent to 4.2 percent. Fidelity disclosed the move this week." That would be $4 billion. That seems like a terrifically bearish piece of news. The buying power is now gone since 4.2% is the minimum needed to meet possible redemptions. And given the herd mentality of fund managers, it's easy to see what is holding the markets up.