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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (90919)	5/10/2001 9:31:05 PM
From: Knighty Tin	Respond to of 132070

Tom, You know that I am a scaredy cat when it comes to reckless money funds. The former Reserve Fund, now the Primary Colors <g> fund is one of the safest. I also think most Treasury and govt. funds are fine. I laughed at the sour grapes about Madoff. I love spread conversions, but I doubt if that is all Madoff does. It is a great strategy, but not all of the time for all of the portfolio. The problem I had is what does he do for these accounts to make them money and why does he do it? He doesn't want publicity to bring in new accounts and he doesn't charge a fee, just commissions. So, the idea that he is doing something shady to fudge returns hits a snag on the motivation criteria. The simple fact is, there is no black box in investing. All of my strategies and all of Madoff's are just very efficient ways to take advantage of one's opinions on various securities. And, my guess is, Madoff's opinions are right more often than they are wrong.