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

To: Kip518 who wrote (24424)	8/16/1998 9:30:00 AM
From: Monty Lenard	Respond to of 94695

Thanks for the link. Interesting! Monty <eom>

To: Kip518 who wrote (24424)	8/16/1998 1:18:00 PM
From: bobby beara	Respond to of 94695

latimes.com Wisdom of the Street, Buy High - Sell Low? -g- "These cycles take forever" to turn, Grant says. * * * Even so, he offers this history lesson: DuPont Co. bought oil giant Conoco in 1981, for $7.6 billion, when many smart people assumed that oil was going to $50 a barrel. That was, instead, the peak for oil. DuPont, Grant says, would have been far better off in 1981 buying Treasury bonds, which then paid annual interest rates of 15.75% because many investors were convinced inflation would continue to rise forever. Today, with oil near $13 a barrel, DuPont is seeking to sell Conoco--because there is little faith in oil prices ever accelerating again. Instead, investors are happy to accept 5.5% Treasury bond yields, on the assumption that inflation is never coming back. An interesting thought to ponder, even if you think Grant and Tice are living in fantasy worlds.