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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (4896)	8/31/1998 3:51:00 PM
From: Bob Rudd	Respond to of 78516

Paul: I use "respectfully" as a closing because I respect your opinions whether I agree or not. If I wanted unconditional acceptance/agreement, I'd get a dog. The purpose of my posts on interest rates is to heighten awareness that borrowing and discount rates for the kind of companies we look at on this board may be going up contrary to the highly visible decline in treasury yields. What you do with this information regarding your own portfolio is your business. How this piece of information might be used by an investor looking at a particular situation, would be to look harder at borrowing needs and capital structure (how highly leveraged) in assessing risk return. My own moves: I closed out a significant position in high yield bond funds. I've picked up initial positions in NH, MPP, CD, and AG with the intention of increasing those positions over the next few months (Although I'm reconsidering Agco in light of the above) Respectfully, Bob