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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Alias Shrugged who wrote (34525)	10/25/1998 12:22:00 PM
From: Knighty Tin	Read Replies (4) \| Respond to of 132070

Mike, I've been laying low on the put suggestions for the main part because the herd was temporarily too pessimistic and we are going into the season of Xmas lies. But I am cautiously adding to CCU, Warner Lambert, and Citigroup. I am holding off on the techs until after the Xmas touts have hit their peak. I found Barron's this week to be to boring for a review. The only think that interested me at all was Abelson's chart of new bull markets. I love many of the country and area funds. They are dirt cheap here and with Alan Greenjeans busting the dollar, things could get better. A US recession would impact countries in different ways. It wouldn't be great for Taiwan, Japan or Chile. It might actually help South Africa, India and in some cases, Latin America. But, hurt or help, the markets are down enough and the discounts wide enough to more than discount it, IMHO. I own a bunch of them, not all first thirds. I am full on Chile, Australian, Malaysia (EWM), and 2/3s full on Mexico and FPF. I have 2/3s in regionals like APF and LDF. I am buying or have bought first thirds of a bunch of others, most notably India Fund, Fidelity Advisors Korea, GTF, Southern Africa, Morgan Stanley Africa, and Swiss Helvetia. However, my entire Cap App portfolio is only 10% of the total and CEFs represent about 30% of that. I still think the main theme is deterioration in US equity prices and bonds and am waiting out the end of this rally to add more puts. Also, my income portfolios are fairly neutral right now on equities, but this suckers rally will allow me to unwind several of the bullish positions and more bearish and neutral ones will replace them. The buyer of Treasuries is called The Fed. My sources tell me they have lots of newly printed cash to inflate to buy bonds. <G> I gloat like a gloatworm on those rare occasions when I am right. <G> MB