Seeing No Recovery, Manager Puts Most of Fund's Portfolio into Cash. From: Knight Ridder/Tribune Business News | Date: August 21, 2001 | COPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

By Miriam Hill, The Philadelphia Inquirer Knight Ridder/Tribune Business News

Aug. 21--Manu Daftary is not the guy to talk to if you want to hear something upbeat about the stock market.

Corporate earnings are shrinking, and Daftary, who manages Quaker Aggressive Growth Fund, said he sees no revival over the near term.

"We're having a difficult time trying to understand valuations because the earnings component is just not there, so we're being v...