Strictly: Oil and Gas Exploration Companies Message Board

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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

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To: Kerm Yerman who wrote (61)	10/5/1998 8:55:00 PM
From: Tomas	of 318

Expert advice to fund managers: Protect clients' savings - Buy oil stocks Bull marketeer draws in his horns Financial Mail, London, October 4 By IAN KING GREG Smith, the analyst famous for identifying the start of the world stock market bull run in 1985, has given London-based fund managers his survival tips for the coming recession. Smith, chief investment strategist at US securities giant Pru-Bache, said he believed that two or three more hedge funds were in similar difficulties to Long Term Capital Management, which was rescued with debts of £60 billion in an operation organised by the US Federal Reserve. Smith told the 150-strong audience that to protect clients' savings they should: Buy oil stocks. Battered by falling prices, they should be helped by the hard winter that usually follows El Nino. Beware 'safe havens' - drug stocks are no longer good value. Buy computer stocks. Companies will continue to invest in technology despite a recession. Be careful when investing in banking stocks. He added: 'When all the world is mesmerised by bad news, what better time to get in and buy some individual companies?'

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