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

To: Knighty Tin who wrote (52354)	3/17/1999 11:54:00 AM
From: wlheatmoon	Respond to of 132070

Alright, which ones of youse guys is selling June 22.5 and 25 puts on INCY. -g-

To: Knighty Tin who wrote (52354)	3/17/1999 2:20:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

A little cold water? U.S. economy still gaining, wage rises mount-Fed...The Federal Reserve said on Wednesday that the U.S. economy was still gaining strength as 1999 began, but also noted that wage demands were on the rise in strained labor markets. biz.yahoo.com

To: Knighty Tin who wrote (52354)	3/17/1999 2:51:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

Have you ever met anyone that made money buying puts and calls ? I mean made money year after year ? Message 8369828 Re Making money in options I have not met such a person, although if one did exist, I'm sure a book would have been written! Interesting note along these lines - about 15 years ago, I was on the Investment Committee of my boarding school (Westtown School in Westtown, PA). The head of the committee then (and, I believe, now) was S. Francis Nicholson. Francis was the class of '17, so do the math to get an idea of his experience. In fact, when he was at the trust department of the Provident Bank in Philadelphia (like Westtown, a Quaker institution), Francis did the original research that became the underpinning for what became known as value investing. I can vividly recall his description of options at one committee meeting as "instruments of the devil." He was not attempting to be funny! My own limited experience with options is that they are animate objects with an uncanny knack for manipulating the calendar and causing ripples in an otherwise linear space/time continuum. Anyone who has had an investment thesis come true the week after expiration knows exactly of what I speak. - Tad LaFountain Message 8370050

To: Knighty Tin who wrote (52354)	3/17/1999 3:38:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

Wednesday March 17, 3:07 pm Eastern Time Rubin warns Congress against debt limit curbs WASHINGTON, March 17 (Reuters) - Treasury Secretary Robert Rubin warned Congress on Wednesday against any proposal that would place curbs on raising the debt limit, saying he would urge a presidential veto of any such legislation. In a letter sent in response to an inquiry from Senate Democratic leader Thomas Daschle, Rubin said imposing such curbs might hinder the United States' ability to borrow in order to pay its debts ''and could also run the risk of worsening a future economic downturn.'' Rubin's sharply worded letter, sent to a half dozen key Democrats in the House and Senate, referred to a legislative proposal currently before the Senate called the Social Security Surplus Preservation Act sponsored by several Republican lawmakers. Its key provision aims to force the government to stop increasing the public debt by reserving all of the Social Security surpluses while reducing the public debt limit by the amount of the surplus every two years. Rubin pointed out that a debt crisis was precipitated in November 1995 when government borrowing hit a statutory limit and protested that the Senate proposal would only heighten the risk of more such crises in future. He also said it could worsen any future economic downturn by limiting the government's options for spurring growth to counter a slowdown. ''Either cutting spending or raising taxes in a slowing economy could aggravate the economic slowdown and substantially raise the risk of a significant recession,'' Rubin said. biz.yahoo.com