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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (344)	11/30/2000 7:09:56 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 12411

Laddering is normally a concept for people on a fixed income. So for example, if you were into Treasuries as you were in retirement years you might Buy a one year note in November, another in December, and so on through October then roll your November from last year into your November from next year. It's actually a neat setup for people who want to smooth out skews in the yield. I imagine it would be great for you and I if we had several million to trade with and we wanted to keep 60% of that to just spew off income to keep us afloat in case we speculated poorly in other endeavours.

To: Raymond Duray who wrote (344)	12/1/2000 1:45:03 PM
From: fswep	Read Replies (2) \| Respond to of 12411

Hi Ray, I wonder if you can go over the term vigorish for me? Sundaresan doesn't have it in the index. I understand maybe little of the tax bite, since if you receive any coupon payment or proceeds from sales, you will have a tax bite. Unless the account is sheltered someway, in which other restrictions could change the gains that trading could offer. Or one could attempt to defer taxes like some of the Institutions have this month with loss sales. I found that through my years that when I owe taxes, I have had a good year. Yep, I too have been fleeced and also done my share of fleecing. The NASDAQ is now where I have done somewhat well, playing the run ups, then selling on the fear. Bonds have been a different story, my access is very limited. I have run into the resistance to the masses trading, earlier in stocks and now bonds. Information is very expensive and hard to find. Just to get a daily (not realtime) quote for Lehmans aggregate index, (I need the duration as a measure of risk for the benchmark portfolio), has been tough. When the masses are offered reasonable access to both information and trading opportunities in the bond market, the added liquidity will change the market forever. I can understand the fear of change, but we have to learn to accept change and be able to work within the new parameters. I hope to stay "wet" behind the ears, as my inexperience has led me to many new discoveries. Which I might have missed if I had sat back and allowed my experience to guide all my decisions. The Permanent Fund has proved to be a viable asset to the State's economy. I will probably date myself, but I remember when Romona Barnes stood up in front of the legislature, threw up confetti into the air, and stated, "This is what will happen to the money if we give the people a check from the proceeds of oil sales". A classic. I swear she never disturbed a hair on her head all the time she was in office. She was just voted out again this past election. I just spent the summer in Juneau, building a foot bridge across the Mendenhall River. Actually, I ran the crew that put the piling and poured the abutments and pier. The box beam design was stuck in an engineer pissing match between the State and Petrovich. I suppose it is done by now. Thanks for replying. Ward