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Fund withdrawals Top Lehman


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Here's a piece of good news:




“When we’re getting close to a market bottom, the phone starts ringing off the hook and our clients want us to sell everything,” Bruce McCain, who helps manage $22 billion as chief investment strategist at the private-banking unit of KeyCorp, said in a phone interview on Sept. 14. “Market bottoms are less about an improvement in the fundamental situation, whether the economy or outlook for earnings, and a lot more about getting rid of all the anxious investors.”


I know many on this board, myself included, have been providing liquidity to such investors recently.  We'll see where we are a year or two from now.

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