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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (27245)	2/27/2005 2:34:11 PM
From: ScatterShot	Read Replies (1) \| Respond to of 110194

Russ, re: "For lurkers here who are worried (as well they should)", thanks for the tips. What do you think of RYVNX and RYCWX at this point?

To: russwinter who wrote (27245)	2/27/2005 8:32:49 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

i am struck by the continuing, nearly universally negative opinion on energy stocks (of course this opinion is espoused by everybody who is underweight energy relative to SPX earnings, which is probably at least 95% of investors--put that in your asset allocation pipe and smoke it!). yes, nothing goes up in a straight line forever, and they've had a helluva run. maybe the magic 8-ball says a 10% gut check is on the horizon. but for chrissakes, if oil stays at $50+ on average, many of these stocks are at <3-4 times cash flow. i just don't see how that's a "bubble", unless you think oil belongs at $20.