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To: John Pitera who wrote (2329)2/11/2002 10:09:00 AM
From: Chip McVickar  Read Replies (3) | Respond to of 12411
 
Morning John,

Been reading Gross for a while now, and enjoy his insights and views. The article on roll-downs and higher interest rates was a novel idea (somewhat absurd), and IMO will not be necessary. Greenspan is well aware of the speculative energies within the telecommunications, energy and Dot.com sectors, and the unusual convergence of events that has brought us to today. Enron is adding to unwinding and this process has further to go..., as the aggressive accounting issues surrounding Enron take on their own life, and seek out other players. It is the nature of our system to punish dishonest accounting.

There's an excellent article in today's WSJ in the C section on what follows excessive periods of speculation.

You can lose money with Gross, he's not perfect..., his PTTAX has not done well from Nov 01.
finance.yahoo.com

GE is a problem, can't decide wether to ride it out or unload....?

My Best,
Chip