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

To: wlheatmoon who wrote (31477)	8/24/1998 11:22:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Mike, I have always had lots of problems with my bosses, partners and shareholders when I explained how I made the income trades I made. Those credit spreads are only two of 19 strategies that I use, though many use options and futures. The complexity and the fact that you have to trade a lot has kept a lot of people out of these strategies. Which is why they can still work. I don't know how many times I have heard, "Turnover was WHAT??????" When I managed the mutual funds, I was once asked how we could justify the high turnover rate. At the time, we were yielding 2 pct. more than any other bond fund in the country. I thought that was justification enough. My bosses thought I was a dangerous smartass. They were wrong about me being dangerous. -g- MB