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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (7604)	8/9/1999 1:42:00 PM
From: Allan Harris	Read Replies (2) \| Respond to of 15132

Imagine, 6.7% risk free in Ginnie. It is a bet on the direction of interest rates, n'est pas? What if you bet wrong? From Morningstar: Vanguard GNME: YTD = -1.13% GNMA Category: YTD = -2.11% A

To: Justa Werkenstiff who wrote (7604)	8/9/1999 3:09:00 PM
From: Justa Werkenstiff	Respond to of 15132

Semi Equips Well it finally happened today. If you recall, Brinker was looking for leadership sectors out of the current correction and it has been confirmed today. The semiconductor sector has replaced the internets for the time being. If one looks at the SOX, it is about 4.5% off its all time high after correcting in mid July but holding strong throughout. Compare this to the NASDAQ which is 10% plus off its all time high. In fact, if you graphed the SOX against the CBOE internet index YTD, one would see that a performance crossover took place about one month ago. BUT the real sealer to me today is what I have been waiting for a few weeks to hear. Some equity fund manager from PIMCO was on CNBC saying that the semiconductors have replaced the internet in leadership and then he discussed the linkage and differences between the internet and the chip. He likes INTC and AMAT. Well, now we know where the herd is moving for the moment and this sector should lead any rally.