To: jetcityrandy who wrote (88704 ) 6/30/2002 8:56:47 PM From: SOROS Respond to The "potential" for a selloff of unprecedented proportions still exists. In the late 1920's and early 1930's only something like 5% of Americans held stocks. Today, I think I read it is near 50%. All it will take is for about 10% of those still holding to figure out that there is still more corruption to be exposed (probably a lot), the market can stay in a bear for 10-20 years, the debt in America will have terrible consequences, the war on terror is not over, Greenspan has created a mess which he will retire from, and most of all, mutual funds do not always come back. Those who figure this out will be the lucky ones because they will probably be the only ones to escape without losing most of their savings. And it is that 10% which will start the ball rolling. It matters not who the 10% is. The fact is, IMO, there will be a 10%. Once that 10% makes the decision, the "automatic buy programs" cannot kick in on every drop if the liars and cowards don't have enough "other people's money" to use. Everyone should call their mutual funds and demand that no commissions or fees be charged if the managers (former used car salesmen) are losing money. It's so classic. They play with YOUR money and charge a fee. If it were truly fair, they would ONLY charge a percentage of the GAIN each year. The entire mutual fund industry was created and run by crooks -- smart ones, but still crooked salesmen.
