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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: mister topes who wrote (120)8/18/1998 10:28:00 AM
From: Lars  Read Replies (3) of 15132
 
***Greenspan in T Bills in 1997 WSJ***

Mr. Greenspeak kept his portfolio predominately in T Bills last year according to an article in the WSJ today.

A spokesman said that he doesnt invest in stocks to avoid conflicts of interests. I wonder if he should just worry about inflation only and not the stock market thereby assuring himself better returns should he decide to establish a position in equities.

This is the ultimate irony to me. Here we have a person who worries about inflation constantly and his total portfolio is in bonds. Maybe he should listen to Bob. Ha! Bonds have a part in a portfolio but to protect oneself from the most vicious "tacit tax" of inflation, as Warren says, a person needs to have equity exposure.

This information came out now that Greenspeak no longer has his blind trust since he married Andrea Mitchell. The trust was liquidated for financial planning reasons.

The portfolio:

$2.4mm ST Treas
$350,000 MM/CMA
$500,000 Norfolk Southern bond
$150,000 MA bond

I am sure glad to have Bob. I did not sell after Greenspeak's December 1996 speech about "irrational exuberance". It was also nice to hear Bob's commentary.

In fact listening to Bob back then was some of the best Moneytalk commentary I have ever heard.

Upon further thought, I bet Greenspeak loses lots of sleep over his wife's huge position in GE. HA! Maybe that is why he has this portfolio. Could it be his wife's "irrational exuberance"?
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