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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (27339)	4/11/1998 6:58:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

To All, Barron's is mostly mediocre this week, but there are a couple of interesting pieces. Abelson rips apart the Citigroup scamola with the same thoughts I've been voicing, except he is grammatical and funny. He figures that now instead of making huge errors, a company like this can make monumental mistakes. -g- And he is absolutely right on. There is an inerview with Mike Rouzee, a money manager who is dropping out to go sailing. While he swears this is not a market call, the man has left accounts 40 pct. in equities and a quarter of that is in platinum stock. I hope his platinum call gets lots of play, as I am also about 20 pct. in platinum for my long stocks. -g- Sadly, he says he owns a South African platinum producer without mentioning the name. There is more than one, but Mike, would it have hurt to say Implats for print? -g- Of course, if it is one I don't own, who cares? Rouzee is also fascinated with the fact that platinum demand is greater than production. IMHO, the inventory is just about used up, which could mean a mighty move upward. And if this Ballard fuel cell takes off, or any other fuel cell, Katy bar the door on demand. So, to echo what I've said here many times, I still love Implats and Stillwater Mining even after their current price rises. Yes, I would rather buy at $8 and $19, respectively, than $11 7/8 and $26, but they are not overpriced at those levels, IMHO. One thing bothered me about the interview. When a money manager doesn't like the market, most of the time, quitting is all he is allowed to do in this manic bull market. Making bearish bets, no matter how conservatively constructed, simply is not an alternative. The clients won't allow it and most of the time, the manager has no idea how to play the other side of the slippery slope. Yes, there are hedge funds, but, as a group, they are dinky compared to registered advisory accounts, pension funds, insurance co. portfolios, bank portfolios, and mutual funds. Heck, investment clubs such as The Bearded Crooks, er, Ladies from Ohio may have more money in them than hedge funds. And the great majority of money invested has no life jacket if this market hits an ice berg. Man, am I going to hate it when the govt. taxes me to bail out all these dum-dum bulls. -g- Good Luck and Happy Easter or Passover or both, MB