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To: Lucretius who wrote (297)	5/17/1998 2:57:00 PM
From: bw	Read Replies (1) \| Respond to of 14427

LT...Went to Forbes, and found this post in one of their forums. The question was, "How do money managers invest their own cash?". I liked this response [from a fund mgr.]: An aggressive money manager knows that 80% of the stocks which are undervalued are meant to be undervalued anyway. His job is to find out the 20% which aren't meant to be undervalued, but thank God, are!!!!! There is greater potential here. The other kind of money manager, in addition to being much more conservative than portraying to be, has recently learnt two strategies, due to market volatility and globalization, these are: a) Made money here? Cash it in, invest it somewhere else, never forgetting one of the many Golden Rules of investing: money is only (and only) made when you sell. There is nothing better than realizing a gain. b) Globalization has virtually eliminated non-correlation between markets (remember the Asian crisis??). So why not concentrate on a market with greater potential for growth? And always remember, 15% in cash.