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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gary Burton who wrote (25137)	10/9/1998 6:15:00 PM
From: Katherine Derbyshire	Read Replies (2) \| Respond to of 70976

T. Rowe Price is concerned enough about what recent events have done to their shareholders that they sent a "Dear Shareholder" letter with this month's statement. Very unusual. It said, in part, "The impact of this uncertainty on the US stock market could be continuing volatility. However, most stocks have already dropped sharply in value and the continuing trend toward lower interest rates reduces further risk. Therefore, we do not believe investors should become overly pessimistic, but rather that they should be patient and moderate their expectations for future equity returns. As you know, in recent years stock market results far exceeded long-term rates of return, and in the current climate that trend is unlikely to persist." The letter was dated September 22. I wonder what the post-October letter will say? :-( Katherine