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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Allan Harris who wrote (7605)8/9/1999 2:06:00 PM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
Allan: The yield is 6.7%. It would have been a mistake to purchase Ginnie Maes on October 8th when the 30 year hit 4.75%. The return figures show this fact now in the share price and the performance you cited In hindsight, MM were the place to be with new income money then. I would say that Ginnie's are a gift horse today just as equities were in October of 1998. Brinker sees long term interest rates not going much higher than this; A. Cohen is in the same camp.

Re: "What if you bet wrong?"

I have done that before with some stock picks. But let me be clear. This is not a trade. It is an asset reallocation move that people should consider for the long term.
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