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

To: John Pitera who wrote (60064)	5/20/1999 6:52:00 PM
From: Knighty Tin	Respond to of 132070

John, I don't really like REITS in this market, but buying one as a fifth position would probably not be all that risky. I would also divide the pile into 5 sections instead of 3. I would buy Closed End Fund preferred shares with two of them, with their AAA ratings and fairly high yields. I would look at Royce Focus Trust RGL-, and Gabelli Convertible Securities GCV-, each yielding a tax advantaged (I doubt she needs it, but it doesn't hurt) 7 1/2%. With another third, I would buy Dreyfus Strategic Governments DSI, yielding over 8%. With the last 5th, I would consider Duff and Phelps Utility Income Fund DNF, yielding 7.2%. I am not a utilities fan, but the REIT and DNF offer a modicum of inflation protection in case my scenario doesn't work out, impossible as that is. <g> Much higher yields can be earned using option strategies, but you need someone doing it full time who knows what he is doing. I am the only such person and I'm not available. But if you ever want to talk over options strategies, I can recommend a few to get your feet wet. They are not buy and hold and are high maintenance, as opposed to the recommendations above.