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To: Chris who wrote (9047)	5/29/1998 3:39:00 AM
From: Nancy	Respond to of 42787

idexx just said she added substantial positions at PFE & GE on Wed low yep, many would laugh about ge being a trading stock - there is no excitement but hey, dont you like a predictable stock that most large cap mutual funds have it as one of the top 2 or 3 holdings? (MSFT is the next one - you would be surprised how many big cap funds list these 2 as no.1 & 2 - closet indexers if you will)

To: Chris who wrote (9047)	5/29/1998 9:29:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 42787

+ivan solotaroff (17806 ) From: +Dave H Friday, May 29 1998 9:05AM ET Reply # of 17812 Some More fuel for the correction fire: [taken from bloomberg.com, posted yesterday on their 'page one'] Stock Fund Cash Levels Hit Lowest Point Since '72: Mutual Funds By Tim Quinson New York: U.S. stock mutual fund managers are holding less cash than anytime since 1972 -- a red flag for those who recall what happened the last time funds were so fully invested. There followed ''a painful bear market and it cost a lot of money,'' said Seth Glickenhaus, senior partner at Glickenhaus & Co., who's managed other people's money since the early 1950s. The Standard & Poor's 500 Index lost almost half its value between January 1973 and October 1974, and then stumbled along in a bear market that lasted another eight years. At the end of last month, the average stock fund had 4.2 percent of assets in cash, the lowest level since December 1972, the Investment Company Institute reported. ''It is concerning when cash levels drop because the more cash fund managers have the more buying power there is on the sidelines that can drive stocks higher,'' said Don Phillips, president of Morningstar Inc., a mutual fund research firm.