To: Grampa Dave
The question of whether or not massive fund redemptions will hurt the overall market is an open one..however..more valid is the point that because fund managers, especially those in fund groups that have image problems..( ahem)..will be forced to keep much higher cash ratios..possible 10%..will hurt ongoing performance....thus triggering further redemptions.....Putnam is damaged goods...brokers are fickele..no one is selling Putnam now...you'd be crazy to do so, they say...it's inviting disaster..the funds will be sold..name changed...
19 posted on
11/18/2003 7:10:30 AM PST by
ken5050
To: ken5050
The problem is when state retirement funds dump Putnam or corporations dump Putnam for their retirement funds, 403ks and 401ks.
One of the best kept secrets during the early two down days last week was that 12 to 14 billion $ were cashed in on the Friday before and basically Monday.
Janus is bleeding badly and Schwab is now getting hit with cash outs. So institutions and some individuals are cashing out of Putnam, Janus and Schwab.
24 posted on
11/18/2003 9:07:48 AM PST by
Grampa Dave
(George Soros, the Evil Daddy Warbucks, has owned the DemonicRats for decades!)
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