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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (14519)	11/16/1997 9:26:00 PM
From: j g cordes	Respond to of 50167

Hi Greg, Jerry and all.. had a luncheon on Saturday with a friend at the vp level for one of the ny money houses... yeah, lets call him Zorro... so much for credibility on this incredible thread. We, of course, we're chatting about future trends in the market relative to current world events and non-events. As I am a short term trader and he collects and distributes mountains of capital, I was most curious what he and his cohorts were doing with their money. In a nutshell, fixed income, whatever and wherever... some risk, but the emphasis is on preserving gains. There's an uncertainty and unease in the game now, which wasn't there last spring. The last time the market looked like it wanted to make a 15% correction those who went short got beaten up... so there's not a great deal of betting against the market except through amplifications of normal hedging. On the other hand the topping patterns and severe selloffs including the 550 point wonder, and its subsequent rebound, has sidelined many for fear of being chewed up in volatility. The safe place to be is to park money where there's a riskless or less risky return UNTIL the workouts in Asia and the game of chicken in the mid-East is played out or seen as less influential. There are, of course, many opportunities for short term trading profits but the temperature of large capital has cooled being put on the back burner. Jim