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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (30203)	6/19/2003 10:16:07 AM
From: JRI	Respond to of 30712

Yes, but most managers were largely invested in equities in March, April despite the sell-off...they were "in" the market, so many, many shoulda benefit from 2Q results...hence, my idea...they have the good numbers to show here...and they know how July-September USUALLY works.. Those who waiting a long time to join rally...I agree, pressure is on them....but do you have any data that shows cash holdings were particularly high about managers back in March/April? I thought they were near all-time lows (slightly off, but still near them) I guess there is an argument that new money flew into equities from April-June...I can see that....seems lower odds play, though, to depend on liquidity flows to drive market higher from July-September..Usually a period in which liquidity is poor

To: t2 who wrote (30203)	6/19/2003 1:10:00 PM
From: dvdw©	Respond to of 30712

Very good post. Whats the purpose of going with a manager of a fund, if that manager isnt even engaged? For the life of me I cant believe the lack of expertise of some of these guys. This is a stock pickers market, many have said it. You cant just rationalize your performance like has been done by many. Remember the slogan we saw daily in May "Sell in May and go away". Now, only managers who faded that conventional wisdom as a cliche are performing, the rest are just adding to the wall of worry, because if they dont, someone is going to have their heads. Its all very easy to seek comfort in rationalizations when you dont really have a clue. Keep up the good work.