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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: nord who wrote (6938)	10/10/1998 8:58:00 AM
From: nord	Respond to of 18016

www1.wsrn.com for any who haven't used the above site it is a nice source for all kinds of stats on co's sectors earnings news etc. regards norden

To: nord who wrote (6938)	10/10/1998 12:18:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 18016

Norden -- My losses in NN are neglligible and even if they weren't, I wouldn't take them. Compared to the gains I'm foreseeing in the months and years ahead, it would be a short-sighted move. Anyone doing this would lose their time benefits on the 18-month holding rule. No small consideration. For those following the LTCM drama, here's the latest: <<< SATURDAY OCTOBER 10 1998 Managed Funds LTCM's losses less than feared By William Lewis in New York <Picture: Graph>Long-Term Capital Management, the US hedge fund, has suffered just a 3 per cent or $120m (£71m) loss since it was rescued by a group of leading financial institutions at the end of September, allaying fears that the fund had lost half its capital. According to people close to the crisis-hit fund, its net asset value was showing a3 per cent loss on capital of approximately $4bn. The performance data is as of the close of business on Wednesday, the most recently available record. Partners at the fund on Friday declined to comment. However, the details of the fund's relatively robust performance in recent days are likely to help calm traders who have been concerned that LTCM has been suffering much worse losses. Since last weekend, people close to the fund have been insisting - correctly - that the fund has been suffering only "modest" losses. They also said it had no large yen-dollar position "and had not had for years". Neither was it holding any gold. There has been widespread speculation about the fund's involvement in both these areas. At the end of last month the fund received a capital injection of $3.625bn from 14 institutions. Approximately $500m of this has been used to pay off a loan facility led by Chase Manhattan. However, the facility is still open for the fund to draw down until the end of the year. Approximately $1.7bn of the bail-out money is in the fund's bank account, with about $1.3bn invested in government securities "unencumbered," according to one person close to the fund. These government securities could be used at short notice as collateral - against most of the full amount of the value of the bonds - to help manage cash needs. The small remainder of the bail-out injection has been used to help finance charges on trades with other parties. People close to the fund say that while market conditions are still tough, there is a growing belief that the worst period for LTCM may have passed. A report in the Wall Street Journal on Friday stated that the "fund's bail-out money is going fast". However, this is dismissed by people close to the fund, as is the suggestion that funds put up by the consortium may run out before it is able to turn its positions around. <<< Gotta run. Big day today --- my best friend's oldest daughter's getting married. We each have three daughters and this is the first. Lots of fun. . . Pat