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To: Tom L. French who wrote (3401)	11/20/1997 7:50:00 PM
From: Thean	Respond to of 95453

Tom, thanks for your work. The 52wk return data definitely give a good perspective on the magnitude of profit to be pocketed by these fund managers. I don't truly understand the inside-out of the compensation scheme of the fund managers but since bonus is tied to performance of the fund, I can understand how one would have no choice but to lock in the profit at hand and don't let the overall volatility of the market to even have a chance to oil the fat number on the bonus check. Thanks again.