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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Sig who wrote (11032)	7/29/2003 10:54:56 PM
From: pbull	Read Replies (1) \| Respond to of 13815

Gasoline prices jumped 13 cents a gallon at the pump here this evening. So I filled up on the other side of town for $1.37. As a follow-up on the leveraged-short bond funds, those recently caught the eye of James Grant, editor of Grant's Interest Rate Observer and a longtime skeptic of central bankers. Rydex Juno is designed to inversely match the return on the long bond or, in other words, should gain 1% in value if the long bond loses 1% of its value. Another is ProFunds Ultra Short bond fund, leveraged at 125 percent. The caveats are the expenses ratios, 1.47% for Juno and close to 1.9 percent for ProFunds. Both have seen assets under management rise by 500 percent this year. Grant, by the way, doesn't always stick with interest rates. He recommended CMGI in 1998 _ at $4. PB