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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (2114)	1/3/1998 5:41:00 PM
From: raymond marcotte	Respond to of 12617

don, i realy must agree with your assesment of the 'institutional effect.' nowadays it is a bit like the 'soros says effect.' there definitely is a herd mentality out there. what a bunch of losers! 90% of the mutual funds could not even match the returns of the s&p in 1997. to some extent, the jan effect is a self fulling prophecy. my 1st rule - what tends to happen, tends to happen. somebody is making too much money here. managers who can't beat the averages are over compensated, and brokers get too much in commissions as managers churn their portfolios. fortunately, those of us who don't participate in this game, can profit by the stupidity of it all. vigilance is required though. the small caps will not be the game in 1998. the big caps probably will not do that well either. the double digit game is over. if we do get a deflation in the world the us will not be unaffected. look at what happened to japan after their market peaked. nobody has made any money in their stock market for several years. boy i hope that doesn't happen here. i remember the 1970's. impossible to make money - nothing happened. bonds and sitting on your hands until capital returned to the market was the only way to go then. i would have to go to the race track for all of my action. i have not given up yet, but am resigned that we may be in for the worst. ray