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Strategies & Market Trends : ahhaha's ahs

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To: ahhaha who wrote (1551)	3/14/2001 1:37:29 AM
From: ahhaha	Read Replies (1) of 24758

THIS IS THE REAL BOTTOM The last time Lehman changed its asset allocation was in December, when it told clients to move 20 percent from cash to bonds on expectations the Fed would soon lower rates. But Reinhard is confident about Lehman's aggressive allocation to stocks at 80 percent and said he will not consider changing his portfolio any time soon, believing the S&P 500 has or nearly has hit bottom. Reinhard cites research showing the index touches a bottom about three months after the Fed cut rates. ``We're very close if not already there,'' he said. Other strategists joined Reinhard in predicting stocks are near their lows. ``I buy stocks two or three times a year and hold them for a couple of years,'' said Tom Galvin, CS First Boston's chief investment officer. ``I expect to buy stocks this week. It's a good buying opportunity.'' That doesn't sound like a bottom. It sounds like these guys are trying to convince themselves.

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