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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (4569)	4/17/1999 11:18:00 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

I2: Now did we hear any concerns about the liquidity of small caps last week during that nice run? Where was all the liquidity talk from the lemmings? It all disappeared. It all goes to show that liquidity concerns walk when performance talks. One talking head last week said that growth managers had trimmed their small cap exposure down to 1% of their portfolio when traditionally small caps had been close to 10%. Looks like they have some big decisions to make over the coming few months. What will the lemmings do? Will they churn and burn the cyclicals and small caps like they did the technology stocks? If so, then there may be no place left to hide from Mr. Correction. Mr. Correction is oh so patient. Mr. Lemming runs and runs until he runs out of gas chasing his performance benchmark. Mr. Correction then comes to give Mr. Lemming one more chance to screw up his life and your performance by selling some at the BOTTOM. And Mr. Lemming takes that opportunity and then tells us that the following year will be for the stockpicker and not the index. That's why all the lemmings are fans of the Boston Red Sox: "Wait 'till next year," they say. What a racket.