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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: StockMiser who wrote (2252)	10/1/1999 10:12:00 AM
From: TechMkt	Read Replies (1) \| Respond to of 15615

Stock, That's a great article. I think GBLX needs a few more articles like that and some TV exposure to push it into the minds of investors. Even the GBLX/FRO merger completion did not get a lot of coverage on CNBC. They need publicity. Fez

To: StockMiser who wrote (2252)	10/1/1999 12:36:00 PM
From: AurumRabosa	Respond to of 15615

Another GBLX favorable mention and a 5-star bond fund with 29.2% of their assets in GBLX bonds and maybe some stock as well. This could be a good addition for the income portion of a diversified portfolio. It's also another way to profit from GBLX, especially if you agree that interest rates are near an intermediate term peak and headed lower long term. "Legg Mason High-Yield Portfolio (LMHYX) is a no-load fund that carries a Morningstar 5-star rating. The fund, which holds more than 100 issues, yields 6.9%. LMHYX Top 5 Holdings Name of Holding % Net Assets Global Crossing 29.2% Booth Creek Ski 12.5% 1.7% Mentus Media PIK 12% 1.6% Paxson Comm Pfd PIK 13.25% 1.5% HMH Properties 8.45% 1.2% Over the past 3 years, as of July, it has grown at a 10.2% annual rate. 50% is invested in bonds rated B or higher and 10% is invested in bonds rated below B. The rest is invested in preferred and common stock and warrants. The average bond held by the fund carries a B rating. Eight percent of the fund is invested in cash. The average maturity of the bond portfolio is 4.4 years. Its largest industry concentrations are in the cable, media and telecommunication industries, where the revenues are more stable and the companies less susceptible to recession." cnbc.com However, I checked the Morningstar web site and they give it 3-stars as of 8-31-99. It may have changed in September or it may confirm Frank's warning to take CNBC advice with a grain of salt. These bond funds are highly correlated to Treasury rates and that should be the basis for an entry, although Morningstar gives this one a low interest rate sensitivity.