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To: Knighty Tin who wrote (4733)	8/29/1998 8:12:00 PM
From: Joseph G.	Read Replies (2) \| Respond to of 86076

=== The New Era of Cheap Puts is Over === Put contracts turned out to be the best value in recent months. Some have appreciated in five weeks better than MSFT stock appreciated in five years. And the best it yet to come, as suckers say. -g- However, going forward, they are not going to be as good a value as they used to be. And we will have to adjust our strategies and find new ones.

To: Knighty Tin who wrote (4733)	8/29/1998 9:26:00 PM
From: MythMan	Respond to of 86076

What are you doing slumming on this thread? <g>

To: Knighty Tin who wrote (4733)	8/29/1998 11:06:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

I'm writing off my investment in EWM. IF it it comes back and makes me some money, cool, but listening to Joe G. every day and now this: Saturday August 29, 8:09 am Eastern Time Malaysia c.bankers must heed politicians -minister (Adds comments by Affifudin, Anwar) KUALA LUMPUR, Aug 29 (Reuters) - Malaysian central bankers must accept that politicians are the final decision makers on economic policy, Deputy Finance Minister Affifudin Omar said on Saturday after the central bank governor and his deputy resigned. The new central bank heads must take into account political and social realities in drawing up policies, the national Bernama news agency quoted him as saying. ''Principles and theories, if fully implemented, may sometimes clash with the political objectives and targets. Those who are fully professional may not be able to accept this sometimes and this is where the disagreement happens,'' Affifudin was quoted as saying. ''In Malaysia, politicians are the ones who determine the policy. If professionals could not accept it, it's up to them to determine their position,'' he told reporters after an official function in northern Kedah state. The Finance Ministry said on Friday that the governor of Bank Negara Malaysia, Ahmad Mohamed Don, and his deputy, Fong Weng Phak, had resigned but it gave no reason for the double resignation. Prime Minister Mahathir Mohamad said earlier on Saturday that the duo had quit over differences with the government on interest rates. Affifudin said political interference in the banking system was not too excessive and that government intervention was needed to guide the banks to follow the country's political agendad. Deputy Prime Minister Anwar Ibrahim, in his first comments about the resignations, said he did not have any information that more central bank officials were quitting. Mahathir said: ''They (the governor and deputy) wanted to quit. The papers said due to disagreements (over rates), so I think I will accept the differences,'' he told a news conference when asked about the resignations. ''We have some differences. I think for example, the government has never agreed to this idea that we should raise interest rates and dry up credit. He said that because of the central bank's stance second quarter economic data showed a stronger contraction in growth than had been expected. He was speaking after closing an Islamic conference. The government announced on Friday that Bank Negara's assistant governor, Zeti Akhtar Aziz, will be acting governor. Malaysia, which had kept its interest rates high since the start of the Asian economic crisis, had in recent weeks moved to push down rates sharply to spur economic growth. It announced this week that second quarter gross domestic product (GDP) contracted by 6.8 percent year-on-year, confirming that the economy is in recession. The GDP shrank by 2.8 percent in the first quarter. Asked about market talk that the government plans to introduce capital control measures, Mahathir said: ''No, we will not.'' He said it was not true that the two central bankers quit over capital control measures that the government was planning to introduce. ''People are allowed to speculate, we cannot stop them from speculating, but we have no intention of controlling capital,'' Mahathir said.