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

To: Zach E. who wrote (47396)	2/17/1999 12:22:00 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Zach, On the savings rate, I am taking a Swag. My understanding is that it is total income less total spending. Since IRAs and 401Ks do not figure into income, my guess is they are not counted. However, if the same person puts the $20,000 into a taxable brokerage account, it is counted. SLB is a great co. and I like to buy great cos. when the cycle is bad. When to sell it? Some folks say never, but I disagree. You want to sell it near the peak of the oil cycle or when it is overpriced. In other works, I have no problem paying a high multiple on a cyclical co. with cyclically depressed eps. But I don't like to pay a high multiple on peak eps, which is my problem with the tech industry right now. Or one of them. <g> If you are asking the last time I got out of my entire positon in SLB, it was at $80, where the stock, on which I had written a call, was called away and I didn't replace it. Whether that is the exit price next cycle depends upon when and how fast it gets there. SLB going to $80 by May would probably be a sale for me. Going to $80 in 2001 would probably still be undervalued, as they are growing over time in a cyclical manner. MB MB