To: stockman_scott who wrote (152357 ) 2/2/2003 6:21:10 PM From: Lizzie Tudor Read Replies (2) | Respond to The spin in that piece is amazing. And I don't think you can call him a "contrary investor" anymore... in the bear, this guy's thinking is the majority.January domestic equity fund flows are certainly no dramatic change in trend of the last half year. But relative to prior year singular January experiences its a big switch. In the most recent ICI (investment Company Institute) data, it can be seen that domestic equity mutual funds ended 2002 with 4.4% of their assets in cash. Just maybe, the chart above and the data on cash availability in aggregate equity funds are the most important January indicators, do you think? also bearish?? And what do cash levels in equity funds have to do with anything anyway, all the cash is in bonds or MM funds.It is quite telling to note that in the most recent downturn, year over year rate of change in a tech centric city such as San Jose literally fell off a cliff. A world of differential from the tech downturn of the late 1980's/early 1990's. base expenditure as a % of revenues that companies pay for IT now vs. 10 years ago. I guarantee it is more, much more now vs. then. And what about the employment base is it larger or smaller than then, excluding outsourcing . Much, much higher. Of course if you want to take the peak of the bubble and say that the rate of change from then till now is the worst ever in history for IT spending you would be technically correct.
