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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (30387)8/2/1998 10:19:00 AM
From: geewiz  Read Replies (2) of 132070
 
Good Morning,

Mike, I read last week that Venezuela had to offer 13.5% on refinance bonds. This for one of the more stable Latin countries. And the Russians... they can't even find buyers at 100%. Throughout the world the price of capital is rising while at home fund managers make shelf space for the great WCOM offering next week. First I heard they were going to raise 4 billion, this weekend in Barrons a five or six billion figure was mentioned. Might as well stock up on these, they are sure to be upgraded to at least a Triple A status real soon(g); a telecom-internet service company growing revenues (was that 11% MCI reported?) Nothing cyclical about that sorta' business.

If the Japanese ever start to pay a market interest it sure is gonna upset this apple cart. How can an individual position themselves in a contrarian way here? A lot has been made of the Yen-Gold relation recently, long metals is a position you like, other favorites? If the rates rise I want to be long the Japanese bond? Short of buying the bonds, is there an options play? I took a swing on SWC' earnings spike and sold the Aug 25 calls; better cover before Borris gets the boot! SWC still looks like a winner. Never heard you mention North American Plladium on the Toronto (delisted from NASDAQ) (PDL.TO).

Thanks for the thoughts on CIEN. Frosting on the cake would be TLAB altering the terms of the exchange; 3 for 2, but looks unlikely as shareholder vote is Tuesday. Mr Birck paid a lot for CIEN.

best, art
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