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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (6004)	1/11/2000 10:06:00 PM
From: Shtirlitz	Read Replies (1) \| Respond to of 10293

New investment idea: BSX (Boston Scientific). Medical devices sector, which was out of favor for the past year, is starting to heat up. Seems like with all this internet madness everyone has completely forgotten about achievements in the medical technology. However projections for the sector are very favorable. BSX is extremely undervalued, comparing to its closets piers MDT (Medtronic) and GDT (Guidant). BSX, imo, is the best bet in this sector at the moment. Initial price target $40. (currently 23 11/16).

To: Bill Wexler who wrote (6004)	1/12/2000 10:17:00 AM
From: Don Westermeyer	Respond to of 10293

Bill, glad to see your positive recommendation on MO. Seems like the market has discounted the tobacco component of the company to zero already. No where to go but up. Once the Florida case that has been getting all the press is resolved much of the selling pressure will be off of the stock. The market fears that those the jury in the case will bankrupt the company. It seems unlikely to me that any jury can hold that kind of power. At least MO pays a juicy dividend while this kind of stuff gets worked out. One thing though - from my understanding reading analysts reports is that MO cannot spin off their non-tobacco interests to protect themselves from litigation.

To: Bill Wexler who wrote (6004)	1/12/2000 12:09:00 PM
From: Peter V	Respond to of 10293

MO may be ready to recover, but I'm not ready to support big tobacco. Plenty of other companies to invest in, IMO. Not condemning your decision to invest, but I choose not to. Just a personal thing.

To: Bill Wexler who wrote (6004)	1/12/2000 4:43:00 PM
From: Bill Wexler	Read Replies (2) \| Respond to of 10293

The bond yield can no longer be ignored. I don't know about anyone else here, but my perception of risk in the market has gone up dramatically with the bond yield crossing 6.7 and heading inexorably towards 7%. I sold more (DEEP in-the-money) covered calls today and scaled back on a few positions. I bought more MO and will probably start shifting a lot of cash to bonds when we hit 6.8 - 6.85%. As usual, I could be wrong - but the atmosphere is getting too risky to play the: "let's catch another 5 points up...wheeeeeee!!!" game. I made a lot of money in 1999; I'd rather sit on it at 6 or 7% nearly risk free than ride a potential 50% decline in some of these stocks. By the way, this has nothing to do with the underlying businesses. I think companies like SUNW are still going to have stellar years. I'm just concerened that the multiples will contract despite the fact that earnings will be robust because you can't fight the exponentially increasing drag of interest rates on stock prices forever.

To: Bill Wexler who wrote (6004)	1/12/2000 4:43:00 PM
From: Hank	Read Replies (1) \| Respond to of 10293

Bill, I was interested to see your MO recommendation. I've been eyeing them with interest for some time myself. However, I don't think the litigation storm is over yet. Every time they settle one suit another one takes it's place. Interestingly, MO was mentioned in the last issue of Worth magazine as a stock to avoid. I can't remember the name of the analyst that made the comments but he gave MO a fair value of $20 a share. He also said that, because of the litigations, MO's 8% dividend was also in jeopardy. However, if MO dips significantly below $20, I may take a crack at some but it smells like another CPU-like trap to me right now. Hank