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To: Bill Harmond who wrote (7103)	5/23/2001 3:23:49 PM
From: craig crawford	Read Replies (1) \| Respond to of 57684

Real-estate is not liquid and it is capital intensive. It also consumes a lot of your time. Real-estate isn't cheap in my part of the world thanks to the bubble economy. And while it can be stable and provide good returns over time, you know me, Bill. I'm always trying to sniff out the next 10 bagger in a short time frame. As for REIT's I will have to look into those. I don't pretend to know anything about them so I can't comment.

To: Bill Harmond who wrote (7103)	5/23/2001 3:24:57 PM
From: craig crawford	Respond to of 57684

Wednesday May 23, 2:32 pm Eastern Time European Stock Markets Close Lower on Report of Rise in German Inflation LONDON (AP) -- European stock markets fell Wednesday, following reports of a rise in German inflation and semiconductor company Infineon's comments that conditions in its market are worsening. High fuel and food costs drove German inflation up to 3.5 percent in May, the fastest rate since December 1993, according to preliminary figures. The rate was 2.9 percent in April. German company Infineon lowered its near-term earnings expectations in an analysts' conference late Tuesday, saying the semiconductor sector is worsening in the current quarter. The high growth technology and telecommunications sectors were hit the hardest Wednesday. In London, information-technology company CMG dropped 5.8 percent. ARM Holdings fell 5.0 percent, and Misys dropped 4.0 percent. The Dow Jones Stoxx Total Market Index of shares in European companies fell 2.60 points to 332.55 points. The Dow Jones Euro Stoxx Total Market Index, which tracks companies in countries that joined the single currency, lost 2.58 points to 336.35 points. The Dow Jones Euro Stoxx 50 Index fell 43.5 points to 4,538.5 and the Dow Jones Stoxx 50 Index was down 42.8 points at 4,334.3. In domestic markets, The Financial Times-Stock Exchange 100-share index closed down 79.20 points, or 1.33 percent, at 5,897.40; the CAC 40 Index in Paris dropped 62.73 points, or 1.10 percent, to 5,630.74; and Frankfurt's Xetra DAX was down 36.85 points, or 0.59 percent, at 6.233.74.