Mad Dash to Nasdaq: Fund Flows Inflate Tech Stocks

Today's market is mad, mad, mad for tech stocks, sending those already at thin-air valuations even higher, sometimes for no obvious reason. Except one: Mutual fund investors are stuffing billions of dollars into the sector, and portfolio managers have to invest that money somewhere.

For 1999, investors have pumped $17.8 billion into tech funds through the end of October, according to Boston-based Financial Research Corp. That's far and away a record -- the next-best year is 1995, when $4.4 billion flowed into the sector.

Dash down some thoughts on our Nasdaq board ...