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To: IceShark who wrote (4326)	8/25/1998 10:30:00 AM
From: Joseph G.	Respond to of 86076

That's probably increase in MM funds in last 6 or 8 weeks. Needless to say, it is not "waiting on sidelines" and has nothing to do with 'investable funds". It's just a part of money supply. Same as if I have 100 $100 bills, it is not 10k "sitting on sidelines" cause even if I buy stock, it will go to the seller, and will not disappear. Just medium of exchange. Just because some people sold $56B of stock (let's assume that as given), and moved money to MM funds does not mean that those who bot the same $56B worth of shares paid with "thank you" notes - they raised literally the same $56B of cash somewhere to buy the stock sold.