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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (2260)	9/3/1998 7:05:00 PM
From: Rarebird	Read Replies (2) \| Respond to of 6439

** TOBACCO COMPANIES, STATES CLOSING IN ON ACCORD TO SETTLE SUITS** ( BLOOMBERG ) 6:58EDT 09/03/98 GREAT NEWS! It will be coming out on REUTERS SOON!

To: Geoff who wrote (2260)	9/3/1998 9:26:00 PM
From: T. Reilly	Read Replies (1) \| Respond to of 6439

i would call it a stock pickers market, neither bull nor bear, you just can't throw money at the market and expect it to go up as it had. It has brought the managers back to reality, now they have to work again to expect oversized gains. There definitely is value out there and no better place to start beside Big Mo. here's to next weeks announcement of a deal, huge buyback, and a move to the fifties.

To: Geoff who wrote (2260)	9/4/1998 7:38:00 AM
From: Wallace Rivers	Read Replies (1) \| Respond to of 6439

I agree that, at some time, we will se a turnaround in the market environment. My reasons: 1. At some point in time, investing in a long bond YTM of 5.3% or less will become much less attractive. Maybe I am naive, but I don't think tying up my money for 30 years, receiving 5.3% in yearly interest payments (taxed at ordinary rates) is such a great deal. 2. The Fed WILL lower. Someone on CNBC this AM said there is only a longer term risk of inflation with lowering rates - almost nil short term. Dropping rates would cause the markets to rebound.