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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (1167)	7/2/2002 12:18:16 PM
From: stockman_scott	Respond to of 89467

<<Fido guess>> Yup...you're probably right...Firms like Janus and Fidelity get paid by shareholders NO MATTER HOW THEY PERFORM...They have tended to be VERY GENEROUS with their Portfolio Managers. My hunch is the guy who left could go run (or start) one of the popular private Hedge Funds and make MUCH MORE money.

To: Jim Willie CB who wrote (1167)	7/2/2002 12:21:03 PM
From: stockman_scott	Respond to of 89467

HomeBuilders getting spanked hard...KBH down 5.6%

To: Jim Willie CB who wrote (1167)	7/2/2002 12:24:32 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

9:12 (Dow Jones) Granted, they have different jobs, but the difference in opinion out of two Morgan Stanley bigwigs seems to be growing. The company's global strategist, the formerly bearish Barton Biggs, says the U.S. stock market has demonstrated on many occasions the ability to heal itself. The world economy is in gradual recovery that will not be derailed by the turbulence, equity markets are bottoming, and stocks should be bought, not sold. Enter the company's well-respected economist, Stephen Roach, who says corporate America could be forced to bite the bullet on the disclosure of earnings distortion, which could accelerate much of the cost cutting that is still being deferred. Such cost cutting would entail another managerial shakeout, sufficient to boost unemployment toward 7%. That would trigger heightened concerns of job insecurity, enough to derail a vulnerable American consumer and spark another dip. (TG)

To: Jim Willie CB who wrote (1167)	7/2/2002 12:28:48 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Dow plunges below key 9,000 level By Allen Wan 07/02/2002 12:01 ---------------------------------------------------- The Dow Jones Industrial Average plunged below the key psychological level of 9,000 in late morning trade Tuesday as investors dumped key technology stocks such as Intel following a slew of earnings warnings and brokerage earnings' estimate cuts. The Dow was down 1.1 percent, while the Nasdaq, which hit five-year closing lows Monday, tumbled 2.9 percent. Intel plunged 5.8 percent to $16.51.