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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ellis Morris who wrote (6171)	3/27/2001 12:04:20 AM
From: Sonny McWilliams	Respond to of 6439

Frank. I saw Elaine G. on NBR. I owned MO sev. times but sold out when the GVT went after TOBACCO. Like I said, I did go back in when MO was 26 and yielded almost 10%. I sold out again when it hit the mid 30's. I should have picked it up again when it went back down into the mid 20's for the last time. I believe it's going to do well and the Kraft spin off should work out. I am still on the sideline. I am not quite sure what the DOW will do and I am pretty sure nobody else knows for sure either. If I were in, I would stay. But I will keep my eye on MO. About Greenspan. I am not so sure that we are in the minority. Anyone, with a little knowledge of economics, knows that the economy reacts to tight money or easy money. The FED went WAY OVERBOARD on raising the interest rates last year. It had to effect the economy. I really DO fault Greenspan for this big downturn in the economy. I am convinced that the FED targeted the stock market. I don't care if they call it the wealth effect or whatever. I call it targeting the market and that should not be the FEDs job. I am pretty sure that the FED knows they messed up even if they don't want to admit it. When you are not accountable to anyone, I guess it can make you pretty stubborn. I do it my way and that's that. Most businesses and economists were calling for a rate cut last year, but no, the FED did the wait and see thing. Well, we can see that the wait and see attitude was NOT the right thing to do. It made matters a lot worth than necessary. I wonder if Greenspan still owns bonds. O'Neill is selling his Alcoa holdings even though he was told it would not interfere with ethics. I guess he is tired of all the talk about it. Futures are down some right now. Let's hope the rally is not stalling already. Sonny