HDTenEightyP/NetNews huggingface dataset:
From: 18971@rhodes.aero.org
Newsgroups: misc.invest
Subject: Re: Printing money
Date: 2 Sep 92 21:07:01 GMT
Organization: The Aerospace Corporation, El Segundo, CA. USA

In article <977@tdat.teradata.COM>, txl@teradata.com (Tuan Le) writes:
> In article <1992Sep2.112523.8159@clpd.kodak.com> fischer@li.serum.kodak.com (Chris Fischer (x39613)) writes:
>>In article <1992Sep1.232142.12511@gumby.dsd.trw.com> suhre@meltami.dsd.trw.com (Maurice E. Suhre) writes:
>>>In article <1992Sep1.123344.25998@magnus.acs.ohio-state.edu> cthorne@magnus.acs.ohio-state.edu (Charles E Thorne) writes:
>>>>The Federal Reserve buys back government debt (notes, bills, etc.).  
>>>
>>>This is a good chance to ask something I've wondered about.  Where does
>>>the Fed get its money from?  Does it have an unlimited amount?
>>>-- 
>>>Maurice Suhre
>>>suhre@trwrb.dsd.trw.com
>>
>>Yes.  It is called the Dept. of the Treasury.
> Yes, but the FED got it out of thin air because THE FED is THE source.
> -Tuan

The answers above are good, for a few laughs! I think Maurice's question is
really about the functions of the Fed, not just the source of money. The Fed
has the most important job in managing the nation monetary policy, meaning the
money growth direction. The legislature takes cares of the fiscal policy, i.e.
how government's income is to be spent.  To enforce the monetary policy, the
Fed has a few tools to work with: Open Market Committee, Fed Fund rate (or is
it the discount rate, I don't  remember which one!), the bank capital reserve
requirement, and yes printing money.  Contrary to popular belief or perception,
most of the money belong to the private sector, not government.  The most the
government can take is 33% of your income, you have the other 67%. Another
popular misperception is the amount of currency in circulation represents the
total amount of money supply.  Due to the capital reserve requirement being
below 20%, the banks can lend out the remaining 80+% to the borrower called A.
Borrower A used that money to buy from seller B. Seller B deposits the money in
the bank, and the bank then uses 80% of that deposit to lend out again. This
process repeats itself many many times and pretty soon, the total amount that
everyone reveives is more than the original stack of currencies.  In another
word, the bank is the primary source of money creation.  The printed currency
is only to replace the worn-out ones plus inflation factor.

How the Fed's action influences the interest rate, inflation rate or money
supply rate needs a long explanation.  The Fed's action alone would not be
sufficient to predict the reality otherwise the government would know for sure
next year inflation rate, dollar exchange rate, etc.  Free market forces
interact with the Fed's monetary policy AND the government's fiscal policy to
produce what you and I PAY for borrowing, EARN from our deposits.  After all,
the free market forces by definition are accumulated effects of individual
choices and actions.

See how simple it is to talk about money?
Quan
Newsgroups: misc.invest
From: rion@Ingres.COM (Rion Cassidy (x3357) OGT)
Subject: Re: Any good intro to Economics Book?
Reply-To: rion@Ingres.COM (Rion Cassidy (x3357) OGT)
Organization: Ask Computer Systems Inc., Ingres Division, Alameda CA 94501
Date: 26 Aug 92 21:22:29 GMT

>In article <1992Aug24.195205.11841@mprgate.mpr.ca> harrison@mprgate.mpr.ca (Jeff Harrison) writes:
>>I've just started getting into this whole investment thing and am finding
>>it all rather confusing. I was wondering if anyone can recommend a good
>>book on Economics which can introduce the concepts clearly to a laymen.
>>I'm looking for topics such as
>>  1) inflation
>>  2) how it relates to interest rates
>>  3) Why the dollar fluctuates (I know it's rather broad, but I'm just 
>>     looking for an intro)
>>
>>I'd prefer a Canadian economics book, but I'm sure that economic theories
>>are pertinent regardless of country.

If you want something REAL basic, try the Wall Street Journal's guide to 
money and markets.  It's a pretty small book, but covers the basics real
well in layman's terms.  I've seen it in most book stores and you can also
get it "free" by subscribing.

Rion
From: mikeq@aspen.CNA.TEK.COM (Mike Quigley)
Newsgroups: misc.invest
Subject: Re: Long-term direction of the dollar
Date: 25 Aug 92 19:47:27 GMT
Organization: Tektronix, Inc., Redmond,  OR.

In article <21014@optima.cs.arizona.edu> bakken@cs.arizona.edu (Dave Bakken) writes:
>What is the general concensus of the long-term direction
>of the dollar against other major currencies?  It seems
>to me that with our relatively sluggish productivity
>gains and our huge budget and trade deficits it is likely
>to go even lower than its current postwar lows.  Comments?


Down. In fact, the dollar will probably be replaced with another currency as
the international standard sometime in the future.

America's history is over in both the short and long term. 
Corrupt, self-serving, unresponsive government. Lazy, apathetic public. Broken 
down infrastructure. Poorly educated, unmotivated children. Overwhelming
debt.  Overpaid, undereducated, undertrained, unmotivated workforce.
Uncompetitive industry. Frightened, closed minds taking refuge in vague
references to God, the flag, ``family values,'' etc... 

The leadership is gone. The masses are resigned, at best, to mediocracy.
No nation in history has ever recovered from that.


BUT!

There is a way to make a buck off all this. Keep your eyes open, be ready
to move, and take the money and run.

Mike
Newsgroups: misc.invest
From: scairns@is.morgan.com (Scott Cairns)
Subject: Re: Printing money
Organization: Morgan Stanley - IS
Date: Thu, 3 Sep 1992 21:46:18 GMT

In article <2306@gandalf.intel.com>, chedley@carthago.intel.com (CHEDLEY_AOURIRI) writes:
|> In article <18880@polstra.UUCP>, larryba@polstra.UUCP (Larry Barello) writes:|> |> 
|> On the short term, the answer is yes!
|> The FED can drive short term interest rates to any level they want.
|> But, long term interest rates are beyond the control of the FED
|> or the government. They are set in the open free bond market.

   True.

|> Currently, the high long term interest rates (about 7.4%) compared to
|> short term interest rates (about 3.5%) indicate that bond investors
|> do not believe that these abnormally low short term rates are
|> going to stick!!

    Wrong.  The market doesn't believe that this period of relatively
low inflation will "stick".  That's why long rates have been so stubbornly
high as compared to short-term rates (in other words, a steep yield
curve).  
    Just curious, what do you perceive as the relationship between
short-term rates and long-term rates?

-- 
+------------------------------------------------------------------+
| Scott Cairns           	|   email: scairns@fsg.com         |
| Fusion Systems Group		|      or: scairns@is.morgan.com   |
| New York, New York, USA   	|                                  |
+------------------------------------------------------------------+
| Standard disclaimers apply.   				   | 
+------------------------------------------------------------------+
| Better not take a dog on the space shuttle, because if he sticks |
| his head out the window coming home, his face might burn up.     |
|    					- Jack Handey		   |
+------------------------------------------------------------------+
From: jvariyam@ada.stat.uga.edu (jayachandran n variyam)
Newsgroups: misc.invest
Subject: Money Market Mutual Funds
Date: 31 Aug 92 18:35:28 GMT
Distribution: usa
Organization: University of Georgia Statistics Department
Originator: jvariyam@ada

Can someone please recommend some good money market mutual
funds or a source where I can get a listing of such funds?
Thanks.
Newsgroups: misc.invest
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Options Question....
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Sun, 30 Aug 1992 18:21:06 GMT
Keywords: Options

In article <vahe.715096303@yorku.ca> vahe@nexus.yorku.ca (Vahe Ohan) writes:
>  I was wondering when is the best time to exercise your option ?? Could
> some one give me an example with numbers indicating which one is better,
> exercising the option that you own or disposing it as a contract before
> the expiration date....

If you're not really seeking a long term position on a call, but
just asking if you should exercise it or sell it back to close your
position, it is almost always best for small investors to close
their positions.

There are big players who negotiate a relatively small commission,
who will exercise a sall option just beofore the ex-dividend date if
there's significant dividend to make it worthwhile to collect the
dividend.  Small investors would get too hard hit by the commissions
to ever make it back in the dividend.  So if there is a significant
dividend, sell back the call a few days before the ex-div date.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.invest
From: rcollins@encore.com (Roger Collins)
Subject: Convertable bonds (how do they work?)
Date: Thu, 27 Aug 1992 17:29:45 GMT
Organization: Encore Computer Corporation

The subject says it all.  I just started receiving IBD and want to
know how to read the quotes on convertable bonds.
From: shekita@yeti.almaden.ibm.com (E. Shekita)
Newsgroups: misc.invest
Subject: Nikkei Explodes Up
Date: 28 Aug 92 16:59:40 GMT

The Nikkei hit a low of 14,309 on Aug 18. It now stands at 17,970.
That's a 25.5% gain in ten days! 

Will the market stablize? Your guess is as good as mine. One
thing these violent moves demonstrate, though, is just how
hard it is to time the Nikkei. In this case, trying to time the
bottom just right would have cost you over 25%.

Japan's economy is slowing right now. Their interest rates are headed
down, and their real estate market is all shot to hell and no money
is going into it. Consequently, Japan may be entering a period much like
the US, where although corporate earnings aren't very good, there
really isn't any other place for the big institutions to put their
money except in the market.

Gene
From: vivien@pyramid.COM (Vivien Chung)
Newsgroups: misc.invest
Subject: Re: 401k Rollover Legality Question
Date: 3 Sep 92 17:08:37 GMT
Distribution: usa
Organization: Pyramid Technology Corporation, Mountain View, California

In article <5sagqB5w161w@cdthq.UUCP>, gary@cdthq.UUCP (Gary Heston) writes:

|> 
|> The usual caveats about mixing 401(k) and existing IRA funds applies,
|> not to mention the problems with having both deferred and non-deferred
|> IRAs. 
|> 
|> Gary Heston, at home....
|> gary@cdthq.uucp

I kept seeing this on the net, would someone please tell me what the caveats are in
mixing 401K with existing IRA?

Thank you.

- Vivien Chung
From: bjk@edsr.eds.com (Brian Kodl)
Newsgroups: misc.invest
Subject: Wanted: listing of market holidays
Keywords: market, holidays
Date: 30 Aug 92 15:55:51 GMT
Organization: EDS Research, Dallas, TX 75230

I'm interested in attaining a list of holidays when the stock market
is closed (i.e., 12/25/92, etc.). If the list is large (> 20), I'd
prefer it in computer readable format.

Thanks (in advance),
Brian Kodl
From: dbk@pslu1.psl.wisc.edu (Don Katz)
Newsgroups: misc.invest
Subject: Re: Janus twenty fund
Date: 4 Sep 92 01:48:49 GMT
Organization: Physical Sciences Lab, University of Wisconsin

In article <1992Sep2.211245.24385@ryn.mro4.dec.com> murphy@rock.enet.dec.com () writes:
>
>Does anyone have a report for the Janus 20 fund,
>which I hope would include a holdings list for
>the fund.  I am interested in finding out what securities the
>fund is holding.,  If you could post or forward this
>list (should be around 20 - gee!), I would apppreciate
>it. 
>
>Thanks,

Here is data from May 31,1992. Current holdings may be very different
(portfolio turnover is 100%-300% annually)

GM 		74
BankAmerica 	134
First Union Corp 45
NationsBank 	45
PNC Financial 	68
Georgia Pacific 32
Amgen		104
Synergen 	58
Duracell	38
Philip Morris	58
Circus Circus	62
Freddie Mae	54
Fannie Mae	104
Merrill Lynch	44
Coke		53
McDonald's 	71
Kroger		27
Medco Contain	62
St. Jude Med	14
T2 Medical	41
Glaxo		62
Pfizer		77
Home Depot	70
Wal-Mart	70
Intel		27
Microsoft	33
ATT		49
TelMex		54

Of the above, the following also show up in November 30, 1991 report
(though amounts may vary)

BankAmerica, PNC Financial, Amgen, Synergen, Duracell, Philip Morris,
Glaxo, Pfizer, Circus Circus, Freddie, Fannie, Merrill Lynch, Coke,
Kroger, Medco, ST. Jude, Home Depot, Wal-Mart, TelMex.



-- 
-----------------------------------------------------------------------------
Don Katz                                .         Physical
                                       .- / \ -.      Sciences
University of Wisconsin - Madison   ./'  /+-+\  `\.       Laboratory   E-MAIL
Newsgroups: misc.invest
From: fischer@li.serum.kodak.com (Chris Fischer (x39613))
Subject: Re: Printing money
Organization: Clinical Products Division, Eastman Kodak Company
Date: Wed, 2 Sep 1992 11:25:23 GMT

In article <1992Sep1.232142.12511@gumby.dsd.trw.com> suhre@meltami.dsd.trw.com (Maurice E. Suhre) writes:
>In article <1992Sep1.123344.25998@magnus.acs.ohio-state.edu> cthorne@magnus.acs.ohio-state.edu (Charles E Thorne) writes:
>>The Federal Reserve buys back government debt (notes, bills, etc.).  
>
>This is a good chance to ask something I've wondered about.  Where does
>the Fed get its money from?  Does it have an unlimited amount?
>-- 
>Maurice Suhre
>suhre@trwrb.dsd.trw.com

Yes.  It is called the Dept. of the Treasury.

-- 
Chris Fischer (fischer@serum.clpd.KODAK.com)
They never even listen to my opinion, why would they make it policy?
"The healthy gum tissue of our liberties are being eaten away by the 
 periodontal disease of government regulation." - D.Barry
Newsgroups: misc.invest
From: Baxevanis@ncbi.nlm.nih.gov (Andy)
Subject: Benham Funds
Followup-To: misc.invest
Organization: NIH
Date: Wed, 2 Sep 1992 13:19:38 GMT

Does anyone have any experience or information on the Benham Group of
Mutual Funds?  Am considering Benham 1995 and Benham 2000 funds.  Besides
fund performance, I am especially interested in customer service and how
they handle trades in general.  Thanks in advance!
Newsgroups: misc.invest
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Reverse Stock Split
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Tue, 25 Aug 1992 20:56:00 GMT

In article <m1F2PB2w161w@cdthq.UUCP> gary@cdthq.UUCP (Gary Heston) writes:
>rdetweil@boi.hp.com (Richard Detweiler) writes:
>
>> A stock I own just went through a 1-for-4 stock split meaning the 100 shares 
>
>However, you now will have to pay higher comissions when you sell, since
>it's now an odd lot; it'll be harder to sell as a result; the company may

If it's publicly traded, odd lots should be no harder to sell than
round lots.   Further, most brokers will waive any odd-lot markups
if the order is placed before the start of the business day.

Many brokers use a commission schedule that charge more for
100 sh @ $10 than for 25 sh @ $40. (ignoring odd-lot)
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.invest
From: ges@stiatl.salestech.com (Gerald Sullivan)
Newsgroups: misc.invest
Subject: Re: Any good intro to Economics Book?
Date: 28 Aug 92 13:02:03 GMT
Organization: Sales Technologies, Inc.

I strongly reccomend "Economics in One Lesson" by Henry Hazlitt. It is published
by Arlington House (ISBN 0-517-54823-2). It's paperback and cost $6.95.

It is not a college text book, so it lacks pictures and formulas that often
obscure the basic ideas. It is also very readable (I can't say that about
textbooxt I have seen). It is only 218 pages. 


-- 
___________________________________________________________________
Jerry Sullivan, Sales Technologies, Inc.  Atlanta,GA 
ges@salestech.com,...uupsi!stiatl!ges I don't speak for my employer.
Just say no to Republicrats, vote Libertarian.
From: mparsons@fleming.csc.bcm.tmc.edu (Mark Parsons)
Newsgroups: misc.invest
Subject: Re: list of mutual funds?
Date: 1 Sep 1992 19:16:30 GMT
Reply-To: mparsons@fleming.csc.bcm.tmc.edu (Mark Parsons)
Organization: Baylor College of Medicine, Houston, Tx
Originator: mparsons@fleming.csc.bcm.tmc.edu


Do you have access to back issues of Money (or Forbes??) magazine?
(There are probably others, too.)

Money has a complete listing of all(?) mutual funds every year
which includes info on loads and their performance over the
last 1,3,5 and 10 years.

Mark
Newsgroups: misc.invest
From: tony2@prefect.uucp (21131-gozdz)
Subject: Re: Closed End Funds
Organization: Bellcore, Livingston, NJ
Date: Tue, 25 Aug 92 18:29:04 GMT

In article <1992Aug25.145153.5453@cbfsb.cb.att.com> klur@cbnewsb.cb.att.com (david.s.klur) writes:
>I'm thinking about purchasing some closed end mutual funds (equity)
>which are selling at a discount, and then "hoping" that the
>discount will be reduced (i.e., the price will rise).  Anyone have
>experience in this?  Are shares of closed end mutual funds traded
>on the NYSE and AMEX like other stocks?
>
>Any advice will help!
>
>Dave Klur
>dklur@attmail.com
>
>

You may want to check the latest issue of Forbes; they
have a list of recommended closed-end funds.  The most
complete information, IMHO, is in the new Morningstar
publication, Morningstar Closed-End Mutual Funds: over 200
closed-end funds, $35 for the full folder + 3 months of
updates (trial subscription,) the usual Morningstar high quality.

Tony
From: mccabe@gdls.UUCP (Harold McCabe)
Newsgroups: misc.invest
Subject: Re: **Wang Lab. stock any hope?**
Summary: No hope
Date: 31 Aug 92 16:03:01 GMT
Organization: General Dynamics Land Systems, Sterling Heights, MI

In article <92241.123313WJT101@psuvm.psu.edu>, WJT101@psuvm.psu.edu writes:
> Hello,
> I am seeking opinions from people on how good an investment in Wang Lab
>  stock would be.  I realize the company is in chapter 11 bankruptcy but is
>  the company a total lost cause?  Is there any chance they can re-group and
>  come out of this ok?  Could this stock be a diamond in the rough??
> Thanks.

August 24 _Information Week_ has an article on Wang and their bankruptcy.
Wang's net worth is estimated at negative $70 million.  Their only hope is
to transform themselves into a software and services company.  The article
concludes "Few technology companies have survived far milder trans-
formations."  IMO Wangs looks "done-for" -- surely there are better places
to put your money.

Harold McCabe
From: bakken@cs.arizona.edu (Dave Bakken)
Newsgroups: misc.invest
Subject: Re: Any good intro to Economics Book?
Date: 26 Aug 92 03:14:45 GMT
Organization: U of Arizona CS Dept, Tucson

In article <1992Aug24.195205.11841@mprgate.mpr.ca> harrison@mprgate.mpr.ca (Jeff Harrison) writes:
>I've just started getting into this whole investment thing and am finding
>it all rather confusing. I was wondering if anyone can recommend a good
>book on Economics which can introduce the concepts clearly to a laymen.
>I'm looking for topics such as
>  1) inflation
>  2) how it relates to interest rates
>  3) Why the dollar fluctuates (I know it's rather broad, but I'm just 
>     looking for an intro)
>
>I'd prefer a Canadian economics book, but I'm sure that economic theories
>are pertinent regardless of country.

I'd highly recommend ``The Age of Diminished Expectations: US Economic
Policy in the 1990s,'' Paul Krugman, MIT Press, 1990.

It consists of:

	I. The Roots of Economic Welfare
		1. Productivity Growth
		2. Income Distribution
		3. Employment & Unemployment
	II. Chronic Aches & Pains
		4. The Trade Deficit
		5. Inflation
	III. Policy Problems
		6. The Budget Deficit
		7. The Triumphant Fed
		8. The Dollar
		9. Free Trade & Protectionism
		10. Japan
	IV. Financial Follies
		11. The Savings and Loan Scandal
		12. Third World Debt
		13. Corporate Finance
	V. American Prospects
		14.Happy Ending
		15. Hard Landing
		16. Drift
	VI. Postscript

Although this is focused on the US, almost all of it would
apply to Canada.
--
Dave Bakken                               Internet: bakken@cs.arizona.edu
Dept. of Computer Science; U of Arizona   Voice:    +1 602 621 4089      
Tucson, AZ 85721; USA                     FAX:      +1 602 621 4246
The fact that you're paranoid doesn't prove they're *not* out to get you.
From: pub@riscee.pko.dec.com (Publius)
Newsgroups: misc.invest
Subject: Re: Long-term direction of the dollar
Date: 3 Sep 92 18:16:18 GMT
Article-I.D.: engage.1992Sep3.181618.10270
Organization: Digital Equipment Corporation, Maynard MA

In article <1992Aug28.164859.19250@inel.gov> whg@INEL.GOV (William H. Gray) writes:
>
>Appropo of this:  the $ is losing ground as the world's
>primary reserve currency.

Don't worry!  Much of the debt accumulated in the past decade is
dominated by the dollar.  Remember that every dollar-dominated debt
is a short position on the dollar.  Long term, I am bullish on the
dollar, for these short positions will have to be covered sooner
or later.  Those who think the Fed can simply print more money to
pay the bill and thus inflat the economy have confused the monetary
policy with the fiscal policy.  The Fed creates money by easing
credit (not by overhauling the printing press) and thus creates even
more debt.  The more the Fed eases the credit, the bigger the short
position on the dollar grows ...

Regards,
-- 
-- Publius
Disclaimer: These opinions are mine, all mine, mine alone.
Newsgroups: misc.invest
From: kendall@adobe.com (Janice Kendall)
Subject: Re: Economic effects of election results
Organization: Adobe Systems Incorporated
Date: Thu, 27 Aug 1992 19:52:12 GMT

In article <5096@gdls.UUCP> mccabe@gdls.UUCP (Harold McCabe) writes:
>In article <1992Aug25.201647.23240@cbfsb.cb.att.com>, mmokhtar@attmail.com (Mazen Mokhtar) writes:
>> 
>>   What would be the economic effect of a Bush win in November? How about
>> a Clinton victory? I am not asking about the changes in the economy due
>> to the policies they enact, I am asking about the changes due to their
>> victory in and of itself. For example, a Clinton victory is likely to
>> decrease the value of the dollar and improve the stock prices of medical
>> complanies. A Bush victory might help car maker stocks.
>
>I read in the August 24 Fortune magazine, that more CEO's thought
>that Bush would be better for business than Clinton.  One of them (Clinton
>or Bush, sometimes I can't remember who is who) favors rebuilding the
>US infrastructure, so that builders of bridges, highways, tunnels, etc
>would benefit.  The article listed some companies, also.
>
>Harold McCabe

 Clinton favors rebuilding infrastructure.

 Janice Kendall    kendall@adobe.com    ...!{decwrl|sun}!adobe!kendall

        "Giving power and money to the government is like giving 
         whiskey and car keys to teenage boys."  

		- P.J. O'Rourke, former gulf war correspondant, summing
		up what he learned during two years of research on how
		our government functions.