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To: SouthFloridaGuy who wrote (119396)	3/5/2001 9:55:30 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

We've also lost $40,000 per person of stock market wealth and we have no personal savings. I am not doubting you but wonder if they was meant to be per person as you stated or per family? That is a bunch if it is per person. Glenn

To: SouthFloridaGuy who wrote (119396)	3/5/2001 9:58:19 PM
From: ChrisJP	Read Replies (3) \| Respond to of 164684

You have an interesting point of view there, NYCBoy, FWIW, I'm something like 80% - 90% in money markets/bonds and maybe 10% - 20% stocks and have been since April 2000. So I ain't a die hard stock market bull. I'm looking at some charts. 5 years ago the S&P was at 650; the NASDAQ was at 1100. Yes, $4 trillion has gone to money heaven since March 2000. But have people lost $4 trillion ? lol, looks to me like they've doubled their money in 5 years -- 7 years sooner than if they put their money in a bank. The story is even better if you use 1991 as the starting point. If you don't think that 1974 was a bubble, maybe you should go back and find out the valuations/premiums placed on some of those "nifty fifty" blue chips from 1969 - 1971. They were pretty outrageous. We have 4% - 5% unemployment, low interest rates, and no inflation. A tough combination to beat. Yup, banks might have some near term problems -- my solution -- kill some bankers. Banks always fuck up, bankers always end up rich, and the government always bails out the banks first and makes the taxpayers foot the bill. Maybe if we did some public executions of some bankers, maybe they'd learn not to mail out credit cards with 21% interest rates. Maybe they'd learn not to bring companies like Priceline.com public and maintain buy recommendations when the company had a market cap greater than United Airlines. lol, Chris

To: SouthFloridaGuy who wrote (119396)	3/5/2001 10:50:21 PM
From: stockman_scott	Read Replies (1) \| Respond to of 164684

Investors beat it out of stock funds __________________________________________________ Estimated $13 billion in outflows a new record By Craig Tolliver, CBS.MarketWatch.com Last Update: 6:31 PM ET Mar 5, 2001 SANTA ROSA, Calif. (CBSMW) - Investors hotfooted it out of equity funds in record numbers last month, a trend not seen since the Asian collapse of 1998. A projected outflow of $13 billion in February would reverse a trend of continuous monthly inflows to stock funds since August 1998, Mutual Fund Trim Tabs reported Monday. The firm tracks the flow of cash in and out of ninety fund families, representing about 20 percent of all equity fund assets, and then regresses those numbers by sector to estimate total equity fund flow. U.S. stock funds leaked nearly $8 billion in assets and international funds suffered more than $5 billion in net redemptions. Bond and hybrid funds, meanwhile, attracted over $2 billion in February. The news is especially dim given the high expectations investors held for stock funds in 2000. U.S. and international equity funds averaged daily inflows of nearly $1 billion last year for a record haul of $309 billion, according to a new study just released by industry trade group The Investment Company Institute. In spite of record inflows during the year, assets tumbled $80 billion to $3.96 trillion amid declining market performance. The Nasdaq plummeted 40 percent in 2000. Standard & Poor's 500 Index and the Dow Jones Industrials dropped 10 percent and 6 percent, respectively. "Flow follows performance. The market's been going down in February big time. The average equity fund over the last 30 days is down about 12 percent. So to see an outflow over that 30 day period is not surprising," Trim Tabs President Charles Biderman told CBS.MarketWatch.com. Through the end of last week, roughly $90 billion went into a combination of savings accounts at banks, retail money funds, and small denomination CDs as individual investors sidelined their money waiting for the next upswing, Biderman said. Equity fund flows were positive in February at The Vanguard Group, the nation's second largest mutual fund company and home to the mother of all index funds, the $100 billion Vanguard 500 (VFINX: news, msgs, alerts) . Vanguard's stock funds took in $1.4 billion in February, but were still down considerably from 2000 February flows of $3.1 billion. The largest no-load, no-transaction fee mutual fund supermarket, Charles Schwab (SCH: news, msgs, alerts) , reported that inflows continued in February, though lightly, following a strong January. Schwab customers put $268 million more to work in stock mutual funds in February following inflows of $3 billion in January. The firm witnessed redemptions by fund holders in November and December however. Strong January flows are not uncommon as investors typically beef up their retirement accounts and some spill into February is generally expected. That's why flow-tracking rival Financial Research Corp. isn't ready to back a February prediction until hard numbers come in, though analyst Chris Brown said he wouldn't be surprised by negative flows. In fact, such a turnaround could be good news for fund firm Franklin Distributors, heavy in fixed-income funds. Franklin (BEN: news, msgs, alerts) , suffering steady redemptions for years, saw the pace drop somewhat in January, according to Financial Research. "If they don't generate inflows across the board, certainly their outflows will be less given lower interest rates and the expectation that fixed-income products will perform fairly well. Not to mention that it looks pretty good compared to the equity market right now," Brown quipped. Craig Tolliver is the mutual funds editor for CBS.MarketWatch.com in Los Angeles.

To: SouthFloridaGuy who wrote (119396)	3/6/2001 1:53:02 PM
From: sea_biscuit	Respond to of 164684

But it's not out of line to talk about a market that trades at a PE of 10 and a Nasdaq of PE 20. That's a 50% drop from here in both the Nasdaq and S&P 500. I think that can happen quite easily on the Nasdaq, possibly by the end of this year. As for the S&P, it will probably happen over a few years -- with the index declining gradually even as the earnings increase. Those who think that indexes cannot decline as their earnings increase should look at the decade of the 70's. Unfortunately, 5 out of 6 present-day investors were born (or "born") after that. So they will have to discover it for themselves.