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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (40447)	10/29/2003 8:26:33 PM
From: energyplay	Respond to of 74559

TWo scarry things going on right now - 1) Russia - Market down another 55, bankers are talking about capital flight. That money will need to land somewhere... Could hit Russian & Eastern European debt, leading to...1998 repeat. 2) Putnam thing and Mutual FUNDs allowing Hedge Funds to skim....this latee trading thing is extensive. Putnam thing is Very Very Bad - Putnam says it stopped in 2000, was still going on in 2003. Perps did not evne have to pay back money skimmed. Massachuttes is taking their 1.5 Billion out of Putnam - thats about 5% of assets. Putnam does not have a good performance track record, may go the way of Arthur ANderson. I expect more people & funds will pull out of Putnam. They will stay in Cash until the find something they feel good about. THhs will happen to some of the other mutual fund players- SO lots of money leaving the market, going to cash.