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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 65.37+0.3%Feb 5 3:59 PM EST
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To: Geoff who wrote (2260)9/4/1998 7:38:00 AM
From: Wallace Rivers  Read Replies (1) of 6439
 
I agree that, at some time, we will se a turnaround in the market environment. My reasons:
1. At some point in time, investing in a long bond YTM of 5.3% or less will become much less attractive. Maybe I am naive, but I don't think tying up my money for 30 years, receiving 5.3% in yearly interest payments (taxed at ordinary rates) is such a great deal.
2. The Fed WILL lower. Someone on CNBC this AM said there is only a longer term risk of inflation with lowering rates - almost nil short term. Dropping rates would cause the markets to rebound.
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