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To: PaulM who wrote (29211)	3/1/1999 7:42:00 AM
From: long-gone	Respond to of 116857

<<"The central bank's decision comes coincidentally with the arrival of Yashwant Sinha as the country's finance minister. During his earlier stint as finance minister of the Chandra Shekhar government in 1991, Sinha had mortgaged the country's reserves of confiscated gold to a Swiss bank to prevent a default on the external account." financialexpress.com A promise to pay gold is the same as gold. Right?>> NO! I thought the duty on gold put on by India was put on at a "funny" time. IMHO some of the Indian Govt. is in the pockets of LTCM. When this thing breaks out, watch out! The carnage.....The Carnage! Could not happen to a nicer bunch of M.F.'s! Heard today Meryll Lynch was going to take a heavy hit on sexual harassment suit - (the enemies of my enemies are my friends?)

To: PaulM who wrote (29211)	3/1/1999 8:44:00 AM
From: Alex	Respond to of 116857

GREENSPAN'S NEXT TERM IN QUESTION By KIMBERLY SEALS McDONALD ------------------------------------------------------------------------ Could Greenspan be a goner come 2000? Observers in Washington and on Wall Street question whether Greenspan's outspokenness against Clinton's Social Security plans could cost him his reappointment next year, if vice president Al Gore is in office, says Barron's. Gore is expected to make Social Security a big part of his campaign. Greenspan's term officially expires before the November 2000 election, but Fed watchers expect the president to put off the process so his successor can hand pick the next Fed chairman, says the weekly. The Beltway buzz machine also says that even if George Bush Jr., the Republican front-runner, ends up in the Oval Office, Greenspan could still be out of a job. Last year, his father, former President Bush, blamed Greenspan for his 1992 election loss, after Greenspan was hesitant to aggressively lower interest rates during the 1991 recession. But the idea of a Greenspan-less Wall Street would be hard for the markets to swallow. Most bond traders and stock brokers have never participated in markets that Greenspan hasn't been involved with. Market watchers are hopeful that Greenspan's stellar record on handling the economy will protect him from the political forces in play. But even if political issues dethrone the G-Man, he'll leave a large pair of shoes to fill. And by whom? While the name of Treasury Secretary Robert Rubin keeps popping up, it is unclear whether he even wants the job.032 . 0000.00 00000 nypostonline.com

To: PaulM who wrote (29211)	3/4/1999 4:23:00 AM
From: Alex	Respond to of 116857

GURU GETS BRUSHOFF By BETH PISKORA ------------------------------------------------------------------------ Billionaire investor Warren Buffett may fret that stock prices are too high, but other investors don't seem to share his concern. After Buffett, the world's second-richest man, told a television interviewer that there was "some degree" of danger in the market, stocks turned in a mixed day. The Dow Jones industrial average fell 21.73 to 9,275.88, but broader market averages posted a late- sessionrally that left them up for the day. The S&P 500 index added 2.20 to 1,227.70, while the technology-laden Nasdaq composite index advanced 6.17 to 2,265.20. In a rare interview, on ABC's Nightline program, Buffett expressed reservations about the high values many stocks have achieved in the eight-year-long bull market. "You know valuations are high by historic standards, you know the level of speculation is high by historic standards and you know that it doesn't go on forever. But you don't know when it ends," said Buffett, chairman and chief executive of Berkshire Hathaway Inc. The average S&P 500 stock has a price/earnings ratio of 32.15 percent. It has never before been so high, though it was briefly above 30 percent before last fall's market correction. The market is "more exaggerated now than most of the time in the past," said Buffett. "But we've had a lot of speculative activity and all kinds of things over the years in markets, and frequently it doesn't come to a good end." Buffett, who has a reputation as a value investor, did not say whether he had found any good values in the markets. He does intend to publish his current list of holdings online at the Berkshire Hathaway web site on March 13, as he does every year. Buffett is known to be a long-term holder in blue-chip companies like Coca-Cola, which closed down to 615/8 yesterday and Gillette, down 3/4 to 563/8. Another of Buffett's holdings is Washington Post Co., down 59/16 to 5463/8 yesterday. Other Wall Street insiders agree with Buffett's assessment that there's danger in the market. "It's time to start talking bear market," said Rick Berry, chief investment strategist at J.P. Turner. Berry specifically cited the Nasdaq composite index, which is 9.8 percent lower than it was last month. A bear market is usually defined by a drop of at least 20 percent. Berry believes technology stocks, many of which are listed on the Nasdaq, are going lower. Yesterday, 3Com dropped 27/16 to 249/16, Cisco fell 9/16 to 951/8 and Oracle declined 5/16 to 35. nypostonline.com