Alfred Kugel Managers Quotations

They're now looking at a situation where their shareholders are going to see the fund is down for the year but they're going to have to pay taxes on large gains. The managers are selling tech stocks that they might have bought at higher prices to realize losses and offset the gains.

The market has done pretty well this week. I think the fund managers that took a more cautious stance after Hurricane Katrina may be doing a little buying now, but it's a quiet day.