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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (5363)	1/1/1999 1:04:00 PM
From: Ron Harvey	Respond to of 18998

As someone who's done very well in bonds, I disagree. The caveat is that it's difficult trading over-the-counter bonds, so if you want any of those, you should have a long-term hold in mind for income-producing purposes. However, the spreads on treasurys, govt. agencies, and NYSE-listed corporates aren't daunting at all. I own a large number of the latter purchased with a spread of no more than 1/4 to 3/8 of a point. In the case of CG Dina, the spread yesterday varied from 1/2 to 1 1/2. The bonds closed at 52 1/2 bid / 54 ask, but, as with most NYSE-listed bonds, they can be picked up at less than the asking price when the market is moderately active. However, CG Dina is marching steadily north, so I don't think that a buyer should fish for a fraction of a point. And market orders are verboten. That's when you risk getting nailed. A final caution: confirmations can take hours.

To: Mr. Pink who wrote (5363)	1/1/1999 1:53:00 PM
From: andrew krull	Read Replies (1) \| Respond to of 18998

Happy New Year Mr. Pink! Thanks for all your picks. Any opinion on these one-time Pink Favorites: FA and CFWY? Have you considered LNCC, a company similar to FSFH? They have also given up on "gain on sale" accounting, and the stock is priced well vs. book and earnings. Andrew