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Technology Stocks : American Power Conversion

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To: Tom Reck who wrote (1728)	8/11/1997 8:03:00 PM
From: Phillip Crone	of 2574

Tom, there are many reasons why I have most of my nest egg in Gold mutual funds but I won't bore this group with all of the specifics, I will just point out the highlights. Bill Clinton-this isn't a political thread so I won't say anymore Japan-interest rates at 1%. They hold an inordinate amount of our debt paper and will have to unload this when they begin to raise their interest rates. Currency Crisis- the world is flooded with paper now much like in 1929. We have record levels of bankruptcies with economy at a "great" level. If things begin to cool down the average Joe who is in debt to the hilt will begin social crisis. EMF and pacific basin currency is already in trouble. Labor unrest- UPS strike is just the beginning of labor wars. CEO's and corporations are making record amounts of money. The unions now want their fair share which will be the spark for mild inflation and the imense "sense" of impending inflation. We have already had hi-tech wage inflation for over 2 years. Most programmers are being paid sign-on bonuses as well as huge pay raises because of the shortage of talented high tech labor. Mid-East "potential" conflicts- there is much trouble brewing in the middle east and it is about to blow. Oil crisis will cause safe haven investments to increase in value. Social Security and Medicare: Yes we have a good budget deal that will work fine with low inflation and an improving economy but who is going to pay me and my 35 year old friends our social security and medicare. There is only one way and that is to raise taxes. Mutual fund mania, index funds, record levels of IPO's, sports salaries at un-Godly levels, record levels of novice option speculating, I could go on and on and on but I will end by practicing Sir John Templetons advice by purchasing out of favor stocks and sectors when there is blood in the streets, much like there has been in the gold market over the past year. Sorry to ramble on because I haven't been talking about APCC. Take Care, Phillip

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