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To: AllansAlias who wrote (56739)	1/11/2001 7:03:46 AM
From: Earlie	Read Replies (2) \| Respond to of 436258

Allan: It had better be the Euro boys. As I posted back in December, (when I bet that Al could not provide us with a rate cut at that time, as a reduction in the interest rate differential puts huge pressure on the buck), Greenjeans can't cut rates much without them doing something of a like nature. I noted at the time that it would likely require a few weeks to line things up on the other side of the pond. Best, Earlie

To: AllansAlias who wrote (56739)	1/11/2001 9:23:18 AM
From: flatsville	Respond to of 436258

moneycentral.msn.com Why the smart money is buying now Mr. P is sophisticated, relentless and cunning, part of that cabal you always suspected controlled the markets. Here's what he thinks will happen this year -- and how you might make money from it. By Jon D. Markman Late last winter, Mr. P was in a world of hurt. Responsible for research at one of the world's top hedge-fund complexes, he had urged his firm to make a large bet against the Nasdaq Composite ($COMPX) amid the swiftest advance in the index's history. The position had gone "terribly wrong," he said, and as slaphappy tech investors around the world euphorically celebrated Nasdaq 5000 with high-fives, he was grimly setting about the task of deep-sixing his shorts. Performance of funds under his control fell sharply because of what he termed a "mistake on the timing, not the extent, of the Nasdaq plunge." And yet, by the time the year was done, he had righted the ledger by cutting losses, regrouping and then forcefully recommending a one-two global counterpunch that worked like a charm over the rest of the year: New bets against U.S. stocks, the dollar and the yen, plus bets in favor of U.S. bonds and the euro. Sound scary? Welcome to the high-stakes and highly volatile world of "macro" hedge funds. A world of futures and options trades made with as much as 3-to-1 leverage on the basis of deep fundamental and quantitative research straight out of the halls of the nation's finest graduate schools. A world of nerves and high turnover. And a world of secrecy and deception. Mr. P agreed to speak broadly with me about his world last week on the condition that he and his company would remain anonymous. Not normally inclined to cloak sources, I made an exception in this case because I thought his views reflect the "smart money" that private investors believe is in a vast, evil conspiracy to steal their retirement savings.... Is he wrong yet again? Too early again this time?