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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (41596)	12/24/2008 4:50:56 PM
From: gronieel	5 Recommendations Read Replies (1) \| Respond to of 42834

"...I wonder why Brinker spun a technically correct but totally misleading story rather than admit HIS CA GO bonds were called away and the funds to pay him off are sitting in US Treasuries until CA decides to send him the money, money he will now have to reinvest at far less favorable terms..." Kirk you really should know what you're talking about before you run around the web making yourself look silly with a newly learned tidbit of information. Brinker's CA GO bonds obviously have NOT been called away or he wouldn't even hold any notes to talk about. The notes have been pre-refunded which means that the bonds WILL be called at a some stated date in the future. The monies are held in an irrevocable escrow account and invested in US obligations. You have no way of even knowing which issues of CA GO bonds Brinker owns nor when the call date is and therefore you can't say that he will soon have to reinvest the proceeds at far less favorable terms. It's easy to see who the rank amateur is here...and it's not Brinker!