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Non-Tech : Wal-Mart
WMT 115.08+1.3%3:59 PM EST

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To: Leo Francis who wrote (46)7/2/1997 2:28:00 PM
From: Jack L. Dlugach   of 1166
 
Right Leo: I understand your reasoning and I really can't say
I disagree with anything much you have to say. Certainly you
may be proven right and WMT will end up being a good short; it
is trading high enough that a correction of 10 or more per cent
is feasible. On the other hand, if the Fed doesn't raise rates
as expected and if earnings come in on target, then WMT and the
rest of the big cap stocks might just keep marching higher for
awhile--hard one to call right now. I'd say your 3 portfolios
sound like they're being managed pretty shrewdly; I'm doing sort
of a similar deal with our portfolios--currently six--and they're
pretty diversified. Options, though, I just don't feel comfortable
with so I leave those to the braver souls.
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