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

To: marc ultra who wrote (11139)	1/13/2000 10:50:00 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 15132

Burp! Just returned from the Federal Reserve rubber chicken circuit held at The Economic Club of New York tonight. As usual a lot of networking, (read ass kissing), of the old boy network went on there even more than usual this evening. It is probably still going on even as I write this. Seemingly unimportant people tried to seem important. These people need to get a life-I probably need to get a life as well. Tonight reminded me of the World Series at Yankee Stadium a lot of the fans you usually see at the meeting were there but a lot more fans who hardly ever show up decided to show up for the occasion. A mob of reporters but that goes without saying. In a nutshell, Greenspan stated the economy seems to be in great shape but ready or not short-term rates will rise. Some headlines nicely summarized by CBS as follows: 20:34 GREENSPAN: WAGES THAT GROW FASTER THAN PRODUCTIVITY COULD SQUEEZE PROFITS 20:33 GREENSPAN: WEALTH EFFECT HAS ADDED 1% TO GDP FOR PAST THREE YEARS 20:32 GREENSPAN WARNS AGAINST PROTECTIONISM OR SPENDING FEDERAL BUDGET SURPLUS 20:32 GREENSPAN: ECONOMY EITHER IN ONCE-IN-CENTURY BOOM OR IN EUPHORIC BUBBLE OR BOTH 20:31 GREENSPAN PRAISES AMERICANS FOR CHOOSING RISKY GROWTH OVER SAFE STAGNATION 20:31 GREENSPAN SHOWS NO SENSE OF URGENCY IN RAISING RATES 20:30 GREENSPAN PRAISES 'VERITABLE SHIFTS IN TECTONIC PLATES OF TECHNOLOGY' 20:30 GREENSPAN: FED DOESN'T HAVE LUXURY OF WAITING FOR BETTER INSIGHTS INTO NEW ECONOMY 20:30 GREENSPAN: IF PROFIT EXPECTATIONS DON'T FALL, INTEREST RATES MUST RISE 20:29 FED CHIEF GREENSPAN: EQUITY WEALTH EFFECT LEADING TO IMBALANCES THAT COULD FUEL INFLATION 20:29 GREENSPAN: EQUITY WEALTH EFFECT LEADING TO IMBALANCES THAT COULD FUEL INFLATION 20:28 GREENSPAN: STOCK AND BOND MARKETS WILL TAKE LEAD IN SLOWING ECONOMY 20:28 GREENSPAN TURNS UP HEAT ON WALL STREET

To: marc ultra who wrote (11139)	1/13/2000 11:38:00 PM
From: Alan Bell	Read Replies (2) \| Respond to of 15132

I would like to get the thoughts of some of the experts on issue of short mutual funds vs. shorting QQQ or SPY. How much of a concern is there that my short QQQ would be called away in the middle of a sharp downturn, thereby reducing the effectiveness of the hedge? How does a brokerage decide which shares to call? Is a fund likely to have a better return because it can earn interest on the shorted money? Will it be a nightmare in quicken to keep track of the weekly mark to market transactions on a shorted stock? Other advantages/disadvantages? -- Alan