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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (5846)	5/26/1999 11:19:00 AM
From: John Hunt	Respond to of 9818

Fund investors hoard cash for Y2K defense, opportunity << It's not a non-event or a hoax," said Edward Yardini, Deutsche Bank's New York-based chief economist -- and a vocal Y2K fatalist. "Investors are taking one heck of an optimistic assumption if they stay fully and aggressively invested. Now is the time to lighten up." Whether cash-hoarding investors are on the offensive or defensive, a surge in money-market fund flows and a 50 percent drop in new money for U.S. stock funds suggest investors are not just spurning a "grossly overvalued" market, Yardini said. The Investment Company Institute reports that total money-market mutual fund assets rose 25.9 percent to $1.44 trillion at the end of the first quarter this year, up from last year's $1.14 trillion. In addition, new net flow of $30.6 billion into U.S. stock mutual funds for the first quarter was half the $60.6 billion the industry took in first quarter 1998. >> hotcoco.com