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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (11268)	11/2/2000 8:40:11 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 65232

Jim, I concede, <bg>, you're right. I'm too focused on the present. If only my crystal ball were a bit less opaque. But I can't even tell you with certainty where next Tuesday's best party will be. Though C-SPAN has to make a choice and sent the bus to Austin. can you remember autumn of 1998? things looked incredibly bleak Of course, I can remember. And as was the case in August of that year, I had no clue, (along with 99.9999% of the rest the world in the market at the time) as to what the real cause of the paralysis in the bond markets was. It wasn't just the Russian default or Asia. Then we all found about about that band of John Merriwether pranksters. And our collective chins dropped. At the fragility of the capital markets. What's your view on what has the bond market so spooked right now? Is it just the European telecoms and their nutty exposures for the UMTS licenses, or is it something more sinister and hidden? I'm not sure I've got a real opinion here, being in the mushroom class of investor myself. <w> -Ray