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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Tommaso who wrote (144803)	1/19/2002 10:56:52 AM
From: Joan Osland Graffius	Read Replies (2) of 436258

Tommaso >>The one stock I've gone into in any size for the long haul is USU. I think they ought to be able to maintain their dividend and I think the dividend will maintain the price of the stock even in a Niagara of selling. I am with you on this one. We have a large replacement of fuel rods this year and the company fundamentals should be good. Am ready to buy more of the stock at lower prices than my entry point and would welcome a "Niagara of selling". Also dusted off Benjamin recently looking for value and just have not been lucky to find anything either. Thought maybe the utilities would have generated some value during the Enron debacle, but these utility stocks are not your mothers companies anymore ... loaded with debt without monopoly pricing power. The only stock was EOT. The street was selling for no good reason and was in there buying like a crazy fool during the sell off. Talisman preferred A pays 9% at par which is not bad for income. The preferred is rated BBB- but their balance sheet looks good and as far as I can tell they should not have problems paying the dividend. It is callable. The stock has a cloud over it because of the Sudan oil fields but that is going away because the US political environment is subsiding. What they have going for them is they are developing successful oil properties close to China and these folks are on a roll. Am not buying the stock just the preferred at par. Also own APJ. This is rated BBB and callable, but has a smaller dividend. Over the last few years have been moving funds into off shore debt. Used TGG, FAX and recently FCO to accomplish this goal. I don’t think anyone should be surprised that management of these funds have decreased the dividends. Getting a good average yield using MB’s 1/3rds strategy has been useful when collecting these instruments. Every once in a while have been finding short term (6 month) FDIC insured CD’s for 3% at Merrill Lynch for some cash, which is not bad compared to safe MM funds. If we have inflation and rolling these monthly does not carry very much risk. The problem is you can only do this with $100,000 and one needs to find a home for other cash. Joan

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