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To: John Carragher who wrote (31596)	9/26/1999 4:46:00 PM
From: puborectalis	Respond to of 41369

Goldman's Cohen Predicts A Shift into Smaller-Capitalization U.S. Stocks By Simon Packard Goldman's Cohen Sees Buying in Small-Capitalization U.S. Stocks (Enter GSEV for more IMF, World Bank and G-7 stories.) Washington, Sept. 26 (Bloomberg) -- More investors will start shifting their money into U.S. small- and medium- capitalization stocks and higher-yielding bonds in coming months as they become less averse to risk, predicted Goldman, Sachs & Co. chief investment strategist Abby Joseph Cohen. ''In the coming months U.S. investors will become increasingly comfortable with the durability of the economic expansion, that inflation will take a lengthy period of time before becoming problematic, and they will start to extend out along the risk curve,'' Cohen said at a conference here during meetings of the World Bank and the International Monetary Fund. Investors have deserted riskier investments in droves since August 1997 because of currency devaluations in Asia and ensuing recessions and political instability in that region. The S&P 500 index has climbed 39 percent since the beginning of 1998, while the Russell 2000 index of small-cap stocks has gained just 0.6 percent. Cohen, regarded as one of Wall Street's most accurate and optimistic strategists, predicted that stocks are ''modestly undervalued'' and repeated her forecast that the S&P 500 could reach 1385 by the end of 1999. That would amount to a 12.6 percent rise for the year. The index, which has increased 3.9 percent so far this year to 1277.36, could touch 1450 within 12 months, she said. Technology Stocks Appealing ''Main line'' technology stocks are appealing because of their ''enormous earnings growth, very high returns on equity and high profit margins'' which suggests many are likely to ''perform very well,'' Cohen said. Computer-related stocks suffered last week on signs that the earthquake in Taiwan will shut many computer chip factories and on remarks by Microsoft Corp. President Steven Ballmer that computer-related stocks are overpriced. The Nasdaq Composite Index fell 4.1 percent since the close of trading Wednesday. Most investors anticipate that the Federal Reserve will raise interest rates again, Cohen noted, although she still expects ''controlled inflation'' for the next 12 months. ''There's no significant momentum for generalized price inflation that we can see at this period in time,'' she said. Turning to the dollar's exchange rate against the yen, something that preoccupied finance ministers of the Group of Seven largest industrialized countries meeting here yesterday, Cohen said the current rate reflects more that the ''yen has got stronger than the dollar getting weaker.'' The yen last traded at 104.18 to the dollar. Predicting that the dollar will ''show signs of weakness against other currencies'' in the coming months, Cohen said that still wouldn't be bad for the U.S. economy, because a cheaper dollar would make U.S. exports less expensive and more attractive and boost the value of foreign earnings repatriated by U.S. companies.

To: John Carragher who wrote (31596)	9/26/1999 4:50:00 PM
From: puborectalis	Respond to of 41369

O.T>SEPTEMBER 25, 16:05 EDT Clinton Said To Be In Good Health By LAWRENCE L. KNUTSON Associated Press Writer BETHESDA, Md. (AP) — President Clinton has gained 18 pounds since his last complete physical examination but is in ''excellent health,'' a team of doctors reported Saturday. They said swollen vocal cords were causing his recent hoarseness and recommended he rest his voice. The 53-year-old president, who has enjoyed generally good health since entering the White House in 1993, weighs 214 pounds, still within the normal range of up to 220 pounds for a 6-foot-2-inch man, said Clinton's physician, Dr. Connie Mariano. ''He would feel best and most fit if he could drop about 10 pounds,'' White House press secretary Joe Lockhart told reporters outside the Bethesda Naval Medical Center. Doctors recommended a low-calorie diet and more exercise, which Lockhart said Clinton's staff will try to help Clinton maintain. Two small skin abnormalities were removed from Clinton's forehead in what doctors described as a routine precautionary treatment. Such skin conditions, typically caused by sun exposure, sometimes can become cancerous. Clinton's battery of tests took about five hours, and included checkups by 14 specialists, including a cardiologist, dermatologist and urologist. It was his fifth complete physical examination as president. Clinton has been bothered by a hoarse and raspy voice since returning from a trip to New Zealand in mid-September. His voice broke twice during a speech Tuesday to the United Nation's General Assembly, but seemed to improve a bit after a day with no public speaking engagements on Wednesday. By Friday night, Clinton again was noticeably hoarse. He repeatedly cleared his throat during two evening political speeches. The doctors diagnosed the swollen vocal cords caused in part by ''voice overuse.'' The recommendation: Clinton rest his voice over the next 10 days, and no yelling at the television during sporting events. Clinton kept up on the Ryder Cup golf tournament during the testing regimen, Lockhart said. There was no word on the calorie count of the lunch the doctors shared with Clinton afterward — chicken enchiladas with mango sorbet for dessert. During his last physical, in October 1997, the president was fitted with in-the-ear hearing aids. They helped with a longtime problem that Clinton said made it difficult to understand voices in crowded receptions or sometimes even to catch what hecklers were shouting at him. The 1997 medical team also removed a benign cyst from the president's chest and pronounced him fully recovered from an injury to his knee that hospitalized him for a few days early in the year. Clinton used crutches for months after tearing a tendon when he stumbled on steps at the Florida home of golf pro Greg Norman. Over the years Clinton also has had an additional cyst removed from his neck and a precancerous skin lesion removed from his nose. Doctors described all of those conditions as common for a man his age. Clinton also has taken prescription medicine to inhibit severe heartburn known as acid reflux disease. He also has a number of allergies, including sensitivity to household dust and grass and weed pollen.