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

To: Joan Osland Graffius who wrote (96553)	7/6/2002 1:17:39 PM
From: Mark Adams	Read Replies (2) \| Respond to of 132070

Alas, I sold FCO too soon, as you know. <g> Collected lots of nice dividends though. I saw your mention of SFD elsewhere, and started looking into it. On the income side, and despite my belief in higher interest rates on the horizon, I took small positions in GPB and VPA. Both are insured, both callable, VPA rather soon. I don't know if they'll be called, depends on refinancing I suppose, and interest rates. Pretty nice site; quantumonline.com I imagine Rogers still likes commodities? I suspect they would benefit from both renewed global growth and mild inflation. Brazil may go left on us, but I'm willing to risk my small position there. I'd be more concerned about the impact on global companies doing business there than the ADRs of the locals. As these impacts are less likely to be seen in advance, have a greater chance of surprise.

To: Joan Osland Graffius who wrote (96553)	7/6/2002 1:39:34 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Joan, I find this updated performance table very interesting: www4.tiaa-cref.org Notice that now the 5-year performance of the bond funds is better than any of the stock funds. Note especially the one-year discrepancies. Look at the one-year return on inflation-linked bonds. Even over the longer haul, the increment in performance almost does not justify the risk. I say almost. But when the 10-year return of the stock funds shows as less than the bonds, and that could easily happen and even be a negative number after another couple of years, there's many billions of dollars in CREF that, overnight, can be switched into a money market fund or a bond fund.