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To: Horgad who wrote (256341)8/18/2003 12:37:14 PM
From: Knighty Tin  Read Replies (1) | Respond to of 436258
 
In general, they aren't good at all. However, there are exceptions. For example, BMN may get stuck with low yield bonds, but they mature in 2006. And MMU hedges its bonds by shorting Treasury bond futures against the portfolio.