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To: JHR who wrote (21204)5/4/1998 12:25:00 AM
From: waverider  Respond to of 95453
 
JHR: >>Diamond all it takes is a phone call to switch that 22 bill into fixed income funds and since most of these investors have never seen a bear I think that could happen easily.<<

Very true, but honestly I think the majority of this money is coming from blind 401/403b accounts and annunties in which the contributors really have no idea what is happening in the market. They are there for the long haul. They have also learned that any dip is a great opportunity to get shares cheaper.

Now, if we do have a 6 month bear or some such thing, some of these people may start worrying about the headlines...but I think by that point it will be too late to act. They will probably know that too.

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