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To: nommedeguerre who wrote (20806)	9/1/1998 8:50:00 PM
From: Charles Hughes	Respond to of 24154

>>>Bear Market: That period of time when no one can explain why the market is going down. :-) Well, Henry Kaufman went on the record on this. He said expect a bounce, but a serious situation for the next year anyway. That we had seen the top 'for this cycle.' Asia, employment, trade, etc etc. He was willing to be even more specific, but Ted Koppel cut him off. Kaufman has some credentials. And he is very specific about what he thinks. Now he was right like 10 predictions in a row, wrong once, and lost his gloss. But my money would be on this guy in a situation like this. If anyone is the old wise head, it is he. Cheers, Chaz P.S. 'It's the net negative mutual flows, stupid.'