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To: Jorj X Mckie who wrote (191993)	9/14/2002 6:28:41 PM
From: David Zgodzinski	Read Replies (2) \| Respond to of 436258

went to a garden party this afternoon and talked to the wife of an inlaw. She's been in the market for many years. Retired at 55. Told me that she just sold the majority of her stocks in the last few weeks and put the money in CD's. Reasoning: She didn't want to lose the actual capital that she had spent all those years accumulating. She had already lost all the gains she made in the '90s (and probably quite a bit more). But she didn't want to lose the rest. Told her I couldn't dispute the possibility that stocks might go down some more. But I mentioned that the danger was that inflation could come in and make those 40yr. low yields look like chickenfeed. This flight to the safety of bonds and money markets reminds me a bit of the way the terrorists like to do their car bombings - from Ireland, to Israel to Afghanistan. First they blow up a small bomb so people are running away and funneled in one direction and security guys are charging in. Then they blow up the bigger bomb down the street when they have the crowds where they want them. Really shakes everybody up, I imagine.