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

To: Bill F. who wrote (51814)	3/13/1999 2:45:00 PM
From: Knighty Tin	Read Replies (7) \| Respond to of 132070

Bill, I also remember the vagaries of the investment business and how "there but for fortune go I." Colonial started a hedged bond fund when rates were at 12%. However, they brought it to market before the SEC and CFTC could apporove the hedging, because that was when the brokerage firms had an underwriting slot. So, the manager, with a huge yield bogey, bought bonds, unhedged, and the yields promptly rose to 14%. My fund came out 3 months later and the powers that be had sprinkled holy water on hedging, so I was lucky. The guy who ran the Colonial fund got fired because his co. dropped the ball. <g> Typical.