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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (37728)	11/29/1998 10:43:00 AM
From: Joseph G.	Respond to of 132070

Now, this was a very good example of garbage coming out of AMG, and of ridiculous spin put on it by media and individual suckers alike. Compare your link: << Message 6593527 >> to official ICI release: <<Washington, DC, November 25, 1998 - Assets of the nation's retail money market mutual funds decreased by $2.14 billion to $808.81 billion for the week ended Tuesday, November 24, 1998, the Investment Company Institute reported today. Assets of taxable money market funds in the retail category fell by $1.91 billion to $665.96 billion; tax-exempt funds' assets decreased by $229.7 million to $142.85 billion. Assets of institutional money market funds increased by $14.86 billion to $565.53 billion for the same period. Among institutional funds, assets of taxable money market funds grew by $14.96 billion to $517.75 billion; assets of tax-exempt funds fell by $107.1 million to $47.78 billion. Total money market mutual fund assets stood at $1.374 trillion for the week ended Tuesday, November 24, 1998. Assets of money market mutual funds for the week ended Wednesday, November 18 were revised to $1.362 trillion. The revision is due to reporting errors and a change in the number of funds reporting. ICI reports the assets of money market funds to the Federal Reserve Board each week and makes this data available to the public on a weekly basis. The Institute also reports monthly on three broad categories of funds. They are: (1) short-term funds which include tax-exempt money market funds; (2) taxable retail and institutional money market funds; and (3) all funds other than money market funds — such as stock, income, corporate bond and municipal bond funds.>> One can notice: (i) AMG number does not correspond to reality; (ii) in that week, individuals withdrew $2.7 B out of MM, while institutions deposited $14.3 B [these numbers take into account interest accrued]. However, institutional money include also those administered on behalf of individuals, which is not segregated. Also, note that individuals shifting money into retail brokerage accounts would result in brokers (institutions) depositing the funds received into institutional MM funds.

To: Skeeter Bug who wrote (37728)	11/29/1998 1:02:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Skeets, Gladstone did make a couple of errors and claiming illegality is hitting below the belt. Trading on tips is certainly not illegal. Trading on insider information is illegal. Still, I think Cramer could have pointed this out without unzipping and trying the my lawyer is bigger than your lawyer schtick. I do find it funny that when he makes a good trade, it is because he is brilliant. When he makes a bad trade, those damned anlysts screwed him royally. But, then, I guess they don't have lawyers. <G> Money funds are swelling because Alan the Printer is causing a huge shortage in the supply of ink. <G> MB