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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (52743)	3/20/1999 7:13:00 PM
From: eddie r gammon	Read Replies (2) of 132070

<<8. A portfolio manager from Putnam talks about IBM and says it is only important that IBM generate operating profits from somewhere and enough cash flow to buy back shares. Really a brainiac, this one. <g> So, the co. is generating operating profits from slick accounting and cash flow from taking down massive amounts of debt. And Put-Put doesn't see it.>> Damn I knew there was a reason I rolled my Putnam annuities out and into Money Markets (g). An interesting thing about rolling those is... I rolled 5 different funds into Money Markets making about 4.5 % one year ago (3-29-98). If memory serves me correct the DJIA was around 8500 at the time. I thought it was too damn high so I punted. Now one year later and with the DJIA at 9800+ I have the same amount in the MM fund as if I had left it in the 5 different funds. I don,t know that to draw from this other than I slept a hell of a lot better this past year (g). erg

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