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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (22151)	7/23/1998 5:47:00 PM
From: Bonnie Bear	Respond to of 94695

RWT is my biggest loser- I think i'll hang on, tho. RWT was written up in the Wash Post as top holding of a value fund manager (check out yahoo thread for RWT) The problem with microcaps is that when they move up they go so fast you'll never catch the train. Strange tea leaves in the CEFs- the bond CEFs sold off hard. The CEF tea leaves scream "rate hike". I found an interesting article about hedge fund managers that use convertible arbitrage to make money, they buy the convertible and short the stock. Does CMO have a preferred? I didn't think about buying the preferred instead of the common. I suppose if one is bottom-fishing here the preferreds of Royce and the REITs may be the thing to buy. (If anybody has experience buying preferreds and can offer advice, please post!) -B