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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Kerry Phineas who wrote (27040)	3/27/1998 3:18:00 PM
From: peter n matzke	Read Replies (1) \| Respond to of 132070

Kerry, i don't see how it can possibly be circular. Mutual funds, banks, and insurance companies control three times more money than individuals control. The individuals have much less money at their disposal and therefore have less ability to create a long term effect on stocks, especially large cap stocks where we have seen run away prices. The price momentum has to be controlled by those that have the power to control it. ps. at the NKE share holder meeting in sept 1997, Phil Knight ceo, referred to the US stock market as the greatest ponzi scheme known to man. This ponzi scheme is not being created by the individual, bigger more powerful hands are in control, atleast i think so.