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To: ild who wrote (190898)	9/6/2002 11:19:21 AM
From: ild	Respond to of 436258

Didn't see this posted: Investment Outlook Bill Gross \| September 2002 Dow 5,000 pimco.com

To: ild who wrote (190898)	9/6/2002 1:43:13 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

love this -- who you gonna call?? We are really good on a relative basis. So buy! >>The United States — Still One of the Best Bets in Town In the late 1990s, the US was largely the only game in town for global investors — hence, the massive capital inflows. Today, given the corporate accounting scandals in the US, questions regarding the Fed’s handling of the economy, and the recent downshift in economic activity, the US is no longer viewed in as favorable a light. However, it is still a strong bet. If nothing else, investors should keep one key point in mind when it comes to America’s ability to fund the deficit: global capital flows reflect the relative (not absolute) attractiveness of global assets, and US dollar denominated assets currently remain among the most attractive on a relative global basis. Europe has fumbled its chance to lead the global economy, while Japan remains mired in recession. Ongoing financial problems in South America have only raised the level of risk aversion among investors and made US assets that much more attractive. By this metric, the US does not look all that bad, a factor supportive of near-term capital inflows. <<