what will pna worth today, page-37

deidre

Fund managers must managed their clients money according to a mandate. The mandate will state that the fund manager can invest 90 to 100% equities and 0 to 10% cash as an example.

Most fund managers at the moment are holding just above their mandate for cash. They will be told to invest these funds in accordance with the fund trust deed.

Fund managers control 80% of the financial markets. There aim is to get 60% of decisions right. In this type of market when everything is going down they still will be invested just that there allocations change

I went to a Chris Caton presentation this morning. Main points are.

China forcast growth for the 2009 year 9.1%
Australia 2.6%

Don't forget the markets are the worst for the US in September more so then October. We will see what happens after October.

We are at capitulation stage, this is where investors sell out right at the bottom of the market and give up.

As jistory shows with evry fall there is a bigger bounce the question is when and how long we have to wait for this bounce.