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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: kthrust who wrote (3118)	8/4/1998 12:39:00 PM
From: B.G. Galbraith	Respond to of 11568

I think it goes like this: Buffet's Berkshire Hathaway just sold 4 billion of zero coupon bonds, because he thinks interest rates are at or near their lows (ie, bonds are at their price peak). BH recently bought General Re, a large insurance corporation. WorldCom is about to issue several billion of Corporate bonds at what some say will be at a very good price for buyers. Apparently Cramer thinks that BH may buy a bunch of these bonds. Anyone disagree? BG

To: kthrust who wrote (3118)	8/4/1998 2:22:00 PM
From: dougjn	Read Replies (2) \| Respond to of 11568

I think all he means is that though interest rates might seem near a bottom and therefore about to turn up again for a bit, the market has appetite for the large Wcom debt offering. Which suggests that the market may feel rates have lower still to go. (Since who (including debenture buyers) wants to buy an offering at the absolute bottom?) I.e., I think he's saying that rates could have lower still to go. Wcom is being used as a market tell. Nothing negative about wcom at all from the seer, JJCramer. Who last he said had it as one of his five largest holdings. Doug