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To: Math Junkie who wrote (48925)	7/9/2001 5:48:11 PM
From: Kirk ©	Read Replies (2) \| Respond to of 70976

RE:CNBC has been talking about bond investing a lot lately. I predict that we are within three months of the bottom! There is a lot to this.. Almost all the advisors are now saying avoid tech.. Remember how optical networking was the last area of strength (ignoring biotech which is a different field)? GLW just warned again and that sector is making the huge cuts... SJ Merc just did a Biz front page on how bad it is for IPOs... In March 2000 they couldn't find enough ink to talk about the latest IPO multimillionaire and the big houses they were buying, etc. Most that I know that were not "active" investors before 1997, give or take a yr or two, are pretty fed up and are back to doing other things... passive means they are back to DCA into the 401K and company stock plans and possibly more conservative funds. Kirk

To: Math Junkie who wrote (48925)	7/9/2001 8:10:57 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

Yeah, the mantra for as long as I can remember (I started paying attention in 1995) has been: stocks do better than bonds. This is a change, pushing bonds. It indicates a sea change in sentiment. It sure takes a lot of pain before people change their behavior. About a year, to 18 months, too late, for CNBC and the brokerages to start telling us to diversify into bonds. They probably have a lot of high-yield telecom debt they want to unload, before all the CLECs go belly up. I almost bought some TXN 2004 calls today, didn't quite get my price, probably will tomorrow.