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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: IceShark who wrote (52361)	3/29/2001 7:39:39 PM
From: S. maltophilia	Read Replies (2) \| Respond to of 53903

Let's say you're a portfolio manager at Fidelity (owner of 84 million MU as of the last 14A). You have a choice tomorrow morning. You can dump a few million shares, reducing your exposure somewhat but tanking the stock, thereby making an unholy mess of the rest of your MU position, a corresponding mess of your other semis, and a flood of redemption requests by panicked fundholders, which further feeds the flames and costs you your job, not to mention your bonus. Or you can buy a few hundred thousand shares at the opening, causing the chart chasers and mo-mo traders to follow in your footsteps, and Maria to wave the pompoms, making you a hero because MU went up. And rest assured that your counterpart at Capital Research (~34 million shares) and countless other fund managers are thinking exactly the same thing....