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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (237766)	4/26/2003 2:54:07 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 436258

Barron's mini-review. Most mediocre this week, but a couple of gems and one super quote. 1. In the gems category, Abelson takes on the week's villains, from the crook at AMR to the crook at CSFB (o.k., I realize that naming any one guy at a large firm THE crook is a gross simplification, but I'm gross and I'm simple). He also takes some shots at The Dixie Chicks. Man, I have real mixed feelings on that one. I believe in free speech, even for celebrities. But it's their free singing I hate. If I don't defend them, perhaps they will no longer be able to assault my eardrums. Everyone says hit the off switch, but you can't turn off diddly danged Texas when you live there. Some economist woman suggests that the Fed buy Munis to save the cities and states. 2. A fluff piece on financial stocks by Jonathan Laing. Given the author, you wouldn't expect any worry about derivatives or fake accounting or the overweighting by dumb mutual fund managers. 3. The quote of the week: "Not since 1720 have investors paid so much for so little." Mailbag, William E. Terrell, Stafford, Virginia. Which I think is in Burke County and, if not, should be. <g> Of course, 1999 should have been substituted for 1720, but it's not quite as dramatic. Sunil H. Thakor also has a good letter. 4. The PE ratio on the Dow 30 is now 27.09. On the 500, 32.58. And on the S&P Industrials, 45.38. Sadly, Nasdaq is still at No Meaningful Figure. All without pension costs or options accounting costs. What a freakin' bargain. 5. The premiums on junk bond closed end funds faded a bit this week. My favorite, EAD, is only at .3% now, which is as flat as Calista Flockheart, in my book. Dats all, folks.