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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: lizardK who wrote (30795)	6/2/1999 3:49:00 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 70976

I highly reduced my holdings about 10 weeks ago. At the time on the Art of investing thread I mentioned that I was 40% junk bond, 40% cash, and 20% stock. I sold all my stocks but one about 5 weeks ago (I had 5 or 6 and 4 of them got taken over during one week). The only one that I held was NOVL. It was not that I thought NOVL was a much better stock than everything else; it was that I was waiting for the earnings report and the stock was showing relative strength, so I was not worried. I would have been better off if I had sold that one too, but I'm not too worried about it. I think bonds, especially junk bonds and some convertibles are good value right now. I don't see inflation becoming a problem. Over all, I think the best gains over the next few years will be outside the US. Some of this is due to the relative valuations and some of the gains will come because of the restructuring that is happening elsewhere. BTW, I am also mostly out of stocks because I am winding down my present contracts and plan to take July off to travel. Sun Tzu