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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (14124)	2/14/1998 11:51:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 18056

Bonnie, the book value of the Philippines Fund was 16.51 at the end of June 1997, what is it now? And to an earlier comment, I am not sure that 30% of the world debt is in default, perhaps in few of the SEA countries. Have a missed a catastrophe or two while napping? Zeev

To: Bonnie Bear who wrote (14124)	2/15/1998 7:20:00 PM
From: Real Man	Read Replies (1) \| Respond to of 18056

Thanks, Bonnie! I continue to look at emerging markets - Latin America, Eastern Europe and Asia for opportunities. It may be too early, though, for a longer-term investment. Russian short-term GKO-s now yield 40%. The ruble curve is indicating devaluation of the ruble at a rate of 9%/year. So this is not bad (28% in dollar terms). But how to get those... Probably, get one of those junk bond funds with a 10% dividend yield. I keep thinking the opportunities are on the short side. If US market starts to drop, growing markets will be hard to find. Interesting, but the DOW only grew 320% since its peak in 1929, if you take gold as currency. That's about 1.6% per year. So MM account safe %% might not be bad at times. -Vi