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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Banjo who wrote (62278)	9/21/1999 1:24:00 PM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 120523

After mkt gets over news of aapl, dollar and Taiwan.... What do you think about the Fed meeting in a couple of weeks? An article I read today says that the bond market has only priced in a 25 percent chance that there'll be a rate hike. That leaves a lot of room for fear to enter the market. Two other areas of uncertainty that bother me are possible worries about a Chinese devaluation and the potential failure of Tiger Management Fund (or another hedge fund). Earlier this year, there was talk that China, if it had to devalue, might act after October 1. This chatter has just completely disappeared, but China's economy remains in bad shape, and there's still a chance they could try to export their way out of trouble. I also continue to think Tiger Fund has to be in deep trouble. Their losses are accelerating rapidly, now standing at 22 percent for the year, according to recent reports. How's this for stock picking? Four of Tiger's ten largest positions are U.S. Airways (U), Federal Mogul (FMO), Tricon Global (YUM), and Waste Management (WMI). Tiger is supposed to be deep into yen-carry and gold-carry trades, both of which are extremely high risk in this environment. They've already been selling winning positions to cover losses and redemptions, and I think they have another quarterly redemption window coming soon.