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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Don England who wrote (87714)	2/19/2001 2:51:40 AM
From: upanddown	Read Replies (3) \| Respond to of 95453

BEGBX? Have to pass, Don. Down 10.4% in 1999, down 1.2% in 2000 and down 1.95% YTD, underperforming its peer group for each period and you are happy with this thing? <ggg> .85% expense ratio, very high for a bond fund. The underlying bonds may yield 5% but that and more is being eaten up by currency and interest-rate risk. Comparing bond funds and money market funds is really an apples and oranges thing. Bond funds just fluctuate with the value of the fund holdings and only distribute what they forced to by IRS regs while money market funds hold very short maturities and are always priced at one buck. They distribute all income monthly. Three or four years ago, a MMF did break the buck because of defaults but the parent company made good on the loss. I haven't heard anything since about credit quality but I do know that most MMF's cannot buy junk-quality paper. The MMF business is a very steady and lucrative sideline for the financial giants and they are not about to watch billions flee because of some defaults. Many MMF's are currently yielding more than 30-year Treasuries. Got some evidence of these MMF problems? I've read some of tradermikes stuff...very bright but also very opinionated (Slider's evil twin?). Online opinions used to be worth a dime a dozen but because of chronic over-supply (opinion glut?), they have officially been devalued to a ha' penny. Good luck with it. Seems to be a play on a weak dollar. John