HDTenEightyP/NetNews huggingface dataset:
From: goodrich@lynx.larc.nasa.gov (Mike Goodrich)
Subject: Re: Stocks newsletter. Netletter!
Organization: NASA Langley Research Center, Hampton, VA  USA
Date: Tue, 7 Apr 1992 20:22:55 GMT

In article <1992Apr7.182746.28511@cs.umn.edu>, prabhak@cs.umn.edu (Satya Prabhakar) writes:

|> 
|> While I agree with the general concept of using 'publicly
|> unavailable' information, the following problems put a damper
|> on an otherwise attractive proposition:
|> 
|>    1. It's likely that professional analysts know more about
|>       your company than you do, unless you are working with
|>       a company that employs less than 10 employees and has
|>       a ledger account for coffee filters. And, in the end it doesn't
|>       matter what one thinks, it's what the market thinks!
|> 

   Better see Peter Lynch's book "One Up On Wall Street"...




...mike
From: lor@cbnewsk.cb.att.com (edward.lor)
Newsgroups: misc.invest
Subject: Re: more options question (Summary)
Date: 17 Apr 92 18:19:47 GMT
Distribution: usa
Organization: AT&T

In article <1992Apr17.161600.20611@cbnewsh.cb.att.com> hcy@cbnewsh.cb.att.com (hon-chi.yu) writes:
>Could you explain what did you mean by intrinsic value?  
At the last moments of a call option's life, its intrinsic value is roughly 
the same as the amount in-the-money, i.e. stock price - strike price. Upon
expiration, an option with intrinsic value means stock price > strike price.

>Does it take into
>consideration of the commission Schwab charges for buying & selling the stocks?
I don't think so.

>If it does not, then even at $0.75 is highway robbery as for stocks like 
>IBM at around $80, $0.75 is < 1% of its price and the average commission that
>Schwab charges for buying & immediately selling the stocks (assuming you do
>not want to raise the big sum of money) is about a few %.

Well, suppose 

-- IBM is $80.75, 
-- the option's strike price is $80,
-- 20 contracts (2000 shares),
-- principal of buying = $160,000,
-- principal of selling = $161,500,
-- commissions of buying and selling = $663.65,
-- max. gain before commission = $1500,
-- max. gain after commission = $836.35.

Of course, taking into account the option premium, say, 1/16, and 
its buying commission, the net gain is about $676.25. It's still a nice
profit from the principal of $161.10 (the amount you pay for the option
+ commission).

However, in this example, the stock price should be at least $80.375 before 
you exercse it.

-- 
                                          Edward Lor
                                          lor@cbnewsk.att.com
                                          
Newsgroups: misc.invest
From: mbb@cbnewsb.cb.att.com (martin.brilliant)
Subject: Re: Wrap Account
Organization: AT&T
Distribution: usa
Date: Sun, 12 Apr 1992 19:09:16 GMT

From article <1992Apr12.174350.1042@murdoch.acc.Virginia.EDU>, by pmd@koa.cs.Virginia.EDU (Phil Dickens):
> I have a question about Wrap accounts. My broker at Merril Lynch
> is pushing very hard to get me into a Wrap account. In this 
> program one of ML's hand picked money managers would manage the
> account and charge 3% of assets per year. There are no
> commission charges. Any opinions out there on this deal?
> My broker says the main advantage of this deal over a 
> Mutual fund is 1) more personalized service (they
> apparantly track the performance on an adjusted
> risk basis 2) the account is not vulnerable to
> stampeeds by the market as is a mutual fund where they may have
> to liquedate in order to meet redemptions. Any thoughts on this
> idea??

A third advantage is that you don't have to pay tax on a mutual fund's
year-end declaration of capital gains, even if you just bought into
the fund and actually lost money.

I think most brokerage houses have similar plans under a variety of
names.  I've had two different brokers offer them.  I think in some
cases it may a ploy to get you to commit all your trading to one
house.  The minimum account is $50,000 or $100,000, depending on how
personalized it is.

But I don't know whether it's a good thing to do.  If you buy a mutual
fund the annual management charges can be a lot less than 3 percent.
On the other hand, if you do short term trading, the commissions could
be a lot more than 3 percent.  A "managed account" seems to be
somewhere in between.

							Marty
marty@hoqaa.att.com		hoqaa!marty
Martin B. Brilliant		(Winnertech Corporation)
From: v070km6q@ubvmsd.cc.buffalo.edu (John B Schutkeker)
Newsgroups: misc.invest
Subject: Re: Japanese PEs (Re: Time to invest in Japan Fund??)
Date: 16 Apr 92 19:15:00 GMT
Organization: University at Buffalo
News-Software: VAX/VMS VNEWS 1.41

prabhak@cs.umn.edu (Satya Prabhakar) writes...
>(Brian Rauchfuss) writes:
>>> 
>>> Indeed, compared to other stock markets, the Japanese PE's, etc
>>> are pretty high.  But if you look at historical data (I'm going
>>> from memory here, so watch out!) Japanese PE's are at their
>>> historic lows -- around 35 or so, I think.  That's something to
>>> consider.
>>> 
>>> Shag
>>
>>Japanese PE's didn't start to go crazy until the last 10 to 15 years.  Before
>>that, they were in the upper 20's I think.
> 
>But then, Japan did not start doing so well until 10 to 15 years ago.
>Looking at the stupendous growth many Japanese companies have demonstrated
>consistently, I think they deserve a higher PE than their global counterparts.
>Some commentator was saying, "3% growth in GNP in Japan is cause for playing
>funeral music on radio for a week while in US it is time to pop open champagne."

Another reason why the Nikkei P/E's have been so high and are expected to stay
high relative to more open markets is an incestuous tradition that Japanese
companies have for investing.  It's name escapes me, but I think it's
something like "Shinozuka," or some such.

Under this system, companies in the same economic sector are obligated by
rigid custom to buy and hold the stocks of other companies with whom they do
a supporting business.  So, if Honda buys lots of parts from company X, both
Honda and company X *must* buy and hold stock in each other.  With the severity
of the current crash, some backstabbing hasd gone on under this system, but
very little compared to the total shares help under it.  The Japanese (at
least so far) are proving deserving of their reputation as extremely loyal to
tradition and custom.

For this reason, experts feel that Nikkei stocks will maintain a high P/E
compared to open markets, although how high is open to debate.

						-- John Schutkeker
From: bill@banana.fedex.com (bill daniels)
Newsgroups: misc.invest
Subject: Re: Little Dollars to Invest...
Date: 10 Apr 92 12:58:47 GMT
Organization: Federal Express Corp.

jrbd@craycos.com (James Davies) writes:

>In article <mah2.702286826@Isis.MsState.Edu> mah2@ra.msstate.edu (Michael Andrew Hodges) writes:
>>If a guy had about a hundred dollars a month to invest in something
>>for his future after he got out of college and had a family, What
>>would he best invest in? In this type of market? 

>You couldn't possible invest in individual stocks at this level (the commisions
>would exceed your investment amount).  Mutual funds tend to have minimums, too.

>Your choices are probably either CDs or lottery tickets, depending on your
>personal risk threshold :-)

>If you take the CD route, you should be able to shift to something with
>a larger (but still reasonable :-) risk after a year or so.

There are a number of mutual fund families that have low opening investment
amounts and low additional amounts.  Some want you to enroll in an
automatic payment plan, ie. Twentieth Century.  There are certainly more
avenues than CDs and the lotto.


-- 
these ravings are in no way sanctioned by federal express corp
bill daniels			| voice:  (901)797-6328
federal express corp		| fax:    (901)797-6388
box 727-2891, memphis, tn 38194 | email:  bill@banana.fedex.com
From: jprice@eecs.cs.pdx.edu (James Price)
Newsgroups: misc.invest
Subject: Re: Yeeee Hiiiiiiiii
Date: 15 Apr 92 17:12:48 GMT
Article-I.D.: pdxgate.5343
Distribution: usa
Organization: Portland State University, Portland, OR


In article <320@rehab1.UUCP> dans@rehab1.UUCP (Dan Schein) writes:
>In article <5311@pdxgate.UUCP> jprice@eecs.cs.pdx.edu (James Price) writes:
))
))  Wasnt it Henry Fonda who was in Fail-Safe? As I recall, from the book,
))we nuked Moscow and then the Prez allowed the Russkies to nuke DC, as
))a payback and in an attempt to make it a "limited" war. The movie had
))this chilling effect whereas, when DC was nuked, the phone the Prez
))was using "screamed" as it melted, verfiying to the Russians that DC was
))really toast. 
)
)   Yes Mr. Pres was ol Henry Fonda (father of Hanoi Jane). If my fuzzy
)  memory serves me correct we swapped New York for Moscow (not D.C.).
)  Also didn't we drop the bomb on NY? I do remember the US ambasador (sp?)
)  hanging on the phone until meltdown. The chilling movie ending was
)  views of NY frozen into still's... Birds, cars, people, etc...
)
)   Though im not sure what all this has to do with me making globs of
)  money via the market? Oh yea now I remember... Jane married Ted Turner
)  and hes worth a lot of money. Ok im with it now.
)
)  [Back to your regular market crash...
)  -Dan
)-- 
) E-Mail:  dans@rehab1.uucp  OR  ...{uunet,allegra,rutgers}!cbmvax!rehab1!dans


   Yup, it was New York after all, and the USAF did the bombing...
Investors take note: After the city was destroyed, the Prez consulted
agout what kind of rescue mission would be needed for the survivors...
As I recall, the advisors response was along the lies of:

  "The records of many businesses resided in the City. Those records
are irreplacable. We must therefore attempt to save as many of those
surviving records as possible."

  The people were expendable; the records were not... yikes!

James
Net: jprice@jove.cs.pdx.edu       "Justice is incidental to law and order."
Globe: 45 31 25 N 122 40 30 W                          - J. Edgar Hoover
Unity not uniformity | NBC = GE   "Reading musses up my mind." - Henry Ford
From: alana@hprnd.rose.hp.com (Alan Albrecht)
Date: Wed, 1 Apr 1992 21:10:10 GMT
Subject: Re: IRA rollover into 401k
Organization: HP Roseville Networks Division
Newsgroups: misc.invest

>    But the real big thing to keep segregated is those IRA donations which 
>    were made with after-tax dollars, because the principal on these
>    accounts is NOT TAXED on withdrawal.  After-tax IRA donations are
>    those which you might have made in spite of not being able to
>    deduct them from current taxable income for 1040 purposes (some
>    people still do this just to get the tax-deferred compounding
>    on the interest).  I believe that if you DO make these kinds of
>    IRA contributions that you will have to keep your tax returns 
>    forever to be able to prove that you already paid tax on the 
>    principal.


     When you make nondeductible IRA contributions, there is another IRS form
     to fill out.  Basically, you determine the amount of your total IRA that
     has had tax paid and log that with this form.

     When you eventually take out your IRA funds, this info will be used to
     determine the tax status.  You are not able to say fund A is nondeducted
     and fund B was deducted, so I will draw from fund A first and then pay
     tax later on fund B.  Instead, it is taxed considering the percentage of
     nondeducted contributions on all you IRA account values.

     I am not an accountant or tax advisor, but I do make nondeductible
     contributions.

     Alan Albrecht
Newsgroups: misc.invest
From: nfs@hart (Norbert Schlenker)
Subject: Re: Discrepencies Between MIPS and SGI prices?
Originator: news@ernie.Princeton.EDU
Organization: Princeton University, Dept. of Computer Science
Distribution: usa
Date: Fri, 17 Apr 1992 12:38:14 GMT

In article <1992Apr15.010519.22142@intrepid.com> gary@intrepid.intrepid.com (Gary Funck) writes:
>
>item 1:  As of 4/14, the closing price for MIPS is 11 (up 3/8)
>and SGI is 18 5/8 (up 1/2).  If we take MIPS' price and divide
>by 0.61, we get 18.03.  The market presently values SGI at
>18.625.  This implies that SGI is going at a 3% premium over
>MIPS.  Why is this?

Because the merger might fall through.  You should think about this
as MIPS trading at a 3% discount to the value of the SGI shares that
would be received in a merger.  The discount is there because of a 
perceived risk that the merger may fail, which would result in MIPS
stock price falling.

Note that if you are utterly confident of the merger, you should buy
MIPS and short SGI in the appropriate ratio.  You make about 60 cents
per MIPS share in six weeks, which is a 3-5% gain depending how you
margin it.  Annualized, you make about 40% (but you'd better be sure
the companies will merge).

Norbert
nfs@cs.princeton.edu
Newsgroups: misc.invest
From: rlcarr@athena.mit.edu (Richard L. Carreiro)
Subject: Waterhouse in IBD
Summary: please summarize
Organization: Digitopolitan Embassy to the US
Distribution: na
Date: Mon, 13 Apr 1992 19:51:19 GMT

I hear that Investor's Business Daily has an article in the 13 April
issue on Waterhouse Securities, the discount broker.

Could someone summarize the article to the group?


--
Rich Carreiro                                    "My country, right or wrong,"
ARPA: rlcarr@athena.mit.edu                                is like
UUCP: ...!mit-eddie!mit-athena!rlcarr            "My driver, sober or drunk."
BITNET: rlcarr@athena.mit.edu      JITTLOV FOREVER!
Newsgroups: misc.invest
From: larry@ducktales.med.ge.com (Larry Landwehr)
Subject: 401K Vesting Question
Organization: GE Medical Systems, Magnetic Resonance
Distribution: usa
Date: Wed, 15 Apr 92 20:27:35 GMT


Does anyone know what the law is on 401K's?

It's my understanding that to gain one year of vesting in a 401K
there is a *federal law* that says that you have to be working for
your employer on December 31st and have worked for at least 2000
hours for that employer during that year in order to be vested
for that year.

If this is so, then what public policy is being promoted?

If the above is true, or at least mostly true, then aren't people
being penalized for changing jobs? To me this would seem to be
some form of government sponsored serfdom.

I can understand a company imposing such a rule to keep their costs
down, but why is our government doing this to us?
--

________________________________
INET: landwehrl@med.ge.com
      larry@ducktales.med.ge.com
________________________________
Newsgroups: misc.invest
From: burgoyne@highlite.uucp (J. Robert Burgoyne)
Subject: Re: Is IBM stock worth buying? (also DEC)	
Organization: Gotham Communications Research, Laurel, MD
Date: Thu, 09 Apr 1992 13:55:03 GMT

In article <1992Apr7.211322.14464@gumby.dsd.trw.com> suhre@meltami.dsd.trw.com (Maurice E. Suhre) writes:
>>Is IBM stock worth buying for long term investment? 
>>It is at a low. Does anyone 
>>feel it will ever go back to the $150+ range?
>
>Technical analysis considerations tell us that stocks going down tend to
>keep going down.  

I think DEC is an excellent example of this. They were once as high as 180,
now they're in the low 50s.

Robert

Newsgroups: misc.invest
From: pmd@koa.cs.Virginia.EDU (Phil Dickens)
Subject: Wrap Account
Organization: University of Virginia Computer Science Department
Distribution: usa
Date: Sun, 12 Apr 1992 17:43:50 GMT

I have a question about Wrap accounts. My broker at Merril Lynch
is pushing very hard to get me into a Wrap account. In this 
program one of ML's hand picked money managers would manage the
account and charge 3% of assets per year. There are no
commission charges. Any opinions out there on this deal?
My broker says the main advantage of this deal over a 
Mutual fund is 1) more personalized service (they
apparantly track the performance on an adjusted
risk basis 2) the account is not vulnerable to
stampeeds by the market as is a mutual fund where they may have
to liquedate in order to meet redemptions. Any thoughts on this
idea??

Thanks....

Phil Dickens
From: barrada@infonode.ingr.com (Ahmed Barrada)
Subject: international funds
Organization: Intergraph Corporation, Huntsville, AL.
Distribution: na
Date: Wed, 15 Apr 1992 12:13:08 GMT

Earlier this year I put some money into TRPrice Intl Stock Fd, New Asia
( no Japan ) and Intl Discov.

They are all down.  Did I make a wrong move?

Sincerly ,

Ahmed Barrada

--------------------------------------------------------------------------------

Ahmed Barrada
104H / LR24A
Infrastructure Group / AEC
Intergraph Corp
Huntsville , AL 35894-0001 , USA

Internet: barrada@karam.b24a.ingr.com

205 / 730-8150 w , 205 / 730-8743 f
From: daniel@hpfcso.FC.HP.COM (Daniel Krulewitch)
Date: Wed, 8 Apr 1992 23:25:52 GMT
Subject: Re: more Options questions
Organization: an elevation of 4984 feet
Newsgroups: misc.invest

Quang Le writes:

> I would like to have a second opinion on holding a call at expiration.
> 
> Assume that I buy  a call of MSFT April 130 and keep it until April 30, 1992
> MSFT is only 120 and there is no market to sell my option even
> with 1 bilionth of a dollar. Do I have an obligation to buy 100
> shares of MSFT at 130? 

No.  Options give you the right BUT not the obligation to purchase the
underlying security

From: rauchfuss@hpfcso.FC.HP.COM (Brian Rauchfuss)
Date: Mon, 6 Apr 1992 21:39:26 GMT
Subject: Re: Government Deficit
Organization: Hewlett-Packard, Fort Collins, CO, USA
Newsgroups: misc.invest

In misc.invest, cox@tachyon.unx.sas.com (Jim Cox) writes:
> 
> (If 8% seems large, consider that stocks went up an average of over 12% per 
> year during that same time period.  In that case, his annuity would return 
> $63,655 per year).

Stocks returned 9% between 1937 and 1982 (including dividends).

BDR
Newsgroups: misc.invest
From: kanth@andersen.uucp (Kanth Miriyala)
Subject: PRAGATI: Email address
Organization: Andersen Consulting
Distribution: misc.invest
Date: Fri, 10 Apr 1992 08:15:51 GMT


A lot of requests for PRAGATI were sent to the local net 
administrator. If you had sent your request 
to news@casbah.acns.nwu.edu please send a new one
to kanth@andersen.com. 

I repeat, requests sent to news@casbah.acns.nwu.edu
have NOT reached me. 

Thanks.

-Kanth



From: privat@hpcc01.corp.hp.com (Jim Privat)
Date: Fri, 10 Apr 1992 00:43:05 GMT
Subject: Re: MUTUAL FUNDS
Organization: the HP Corporate notes server
Newsgroups: misc.invest


> DOES ANYONE KNOW ANY PUBLICATION (JOURNALS/TAPES, ETC) WHICH
> CONTAINS MUTUAL FUND DATA?
> THANKS,

Money and Business Week both had recent issues rating the mutual
funds.

Also try the Morningstar Mutual Fund report -- many libraries have
it.  

Jim Privat
From: timlee@public.btr.com
Newsgroups: misc.invest
Subject: Re: Calculating tax for Mutual Fund shares
Date: 15 Apr 92 04:40:59 GMT
Reply-To: timlee@btr.com (Timothy J. Lee)
Followup-To: misc.invest
Distribution: usa

fierro@amdahl.uts.amdahl.com (Doug Fierro) writes:
|
|  I thought some people might find this useful.  Keep in mind I did not
|write this!  Typos can be directed to /dev/null :-)
|
|*********************
| Mutual Funds Make Tax Time Miserable
|by Jane Bryant Quinn
|
|  For years, I'd been asking mutual funds why they didn't give their
|customers more help.  Finally, there's a light at the end of the tunnel.
|A handful of mutual funds now provide the information you need to simplify
|your tax calculation, and Congress may force the rest of the industry to
|follow.

The other side of the coin is that I heard that, as part of the Congress
proposed requirement that funds tell shareholders their average basis,
shareholders would be required to use the averaging method.  Not good
if you are carefully bookkeepping share lots for specific share or
FIFO methods.
From: root@sickbay.austin.ibm.com
Newsgroups: misc.invest
Subject: Re: Chartism -- charlatans?
Keywords: it goes up and it comes down....
Date: 15 Apr 92 19:11:06 GMT
Organization: IBM, Austin

>Message-ID: <1992Apr15.161227.29345@cs.umn.edu> 
 I must butt in this thread....
 Paul Tudor Jones and the other big futures funds can and will follow 
 well known chart patterns.... Oh yeah, THEY do it ! Anyone who makes $$'s..
 ...and when enough technicians are suckered in they will FADE the
 market, meaning they will do the OPPOSITE by 1000 fold. In other words
 some funds can create their own chart patterns in illiquid markets. 
 This does not apply some of the biggest markets (bonds,s&p, euro$)
 But, hey don't blame the poor technician by naming them charlatans. 
 They may be ignorant and pompous, and I could go on and on...  :-)
 According to Trader Vic, my favourite Italian, if you don't look at chart 
 at all, you may loose perspective, but don't listen to me, read his book !! 
 It's great !
 Andras
From: pmd@cbnews.cb.att.com (Paul Dubuc)
Newsgroups: misc.invest
Subject: Re: Rudman on the federal debt
Date: 9 Apr 92 18:21:06 GMT
Distribution: usa
Organization: AT&T


In the April 1992 issue of The Atlantic there's an interesting article
by Neil Howe and Phillip Longman entitled "The Next New Deal".  They talk
about reforming the federal system of entitlements.  The authors see the
basic problem with the present system is that it favors the affluent over
the poor, the old over the young and consumption over savings.  Our problems
can't be solved by "tweaking" the present system.  Comprehensive reform is
needed.  I thought the article made a lot of sense.  I think that comprehensive
reform could be sold to the electorate, not that it would be easy.  People
would have to be convicned that reforms are truly conprehensive; that certain
groups aren't going to be singled out while others get away scot free.
I would be glad to give up things like deductable interest on my mortage
or to pay taxes on my health insurance benefits IF it was part of a
conprenhensive reform like the one these guys are talking about.

Just thought I'd mention the article here for those who may be interested
and solicit responses from those who've read it.
-- 
Paul Dubuc    |   "No one is so terribly deceived as he who does not
att!cbvox!pmd |   himself suspect it ...."
	      |   				Kierkegaard
	      |
From: mstone@teda.Teradyne.COM (Michelle Stone)
Newsgroups: misc.invest
Subject: Re: Schwab`s Equalizer
Date: 16 Apr 92 23:32:13 GMT

syoon@uhunix.uhcc.Hawaii.Edu (Sang Yoon) writes:

>In article <6265@bigbird.hri.com.hri.com> proto@sparc61.hri.com (Rich Proto) writes:
>>Is anyone familiar with the Equalizer program from Charles Schwab who
>>can comment
>>on it? 

>  Comment: Don't even think about using it.

>           I used 5/91 through 7/4/91 and  8/9/91 through 9/91.
>           And paid over $3000 dollars.


I use it.  I am not particularly fond of the user interface.  I know that
I can not afford many of the features that Schwab offers.  I use the software
to order securities, get my confirmations and update my prices once 
or twice a week.  It costs very little to do this.

Now, if you are heavy into using the Dow Jones online quotes or data
base.. look to spend some heavy dollars.


Michelle   
Newsgroups: misc.invest,sci.econ
From: tucker@shiva.edsg.hac.com (George Tucker)
Newsgroups: misc.invest
Subject: Re: 50% Off Stores
Date: 9 Apr 92 00:00:49 GMT
Reply-To: tucker@shiva.UUCP (George Tucker)
Organization: Hughes Aircraft Co., El Segundo, CA

In article <1992Apr8.190929.4427@ringer.cs.utsa.edu> jschwarz@lonestar.utsa.edu (Jan A. Schwarz) writes:
>
>  Does anyone have any information on the 50% Off stores?
>  It has gone from 31 down to 17!  Can't figure out what's wrong.

When the shares get to 15.5 they will be 50% off shares.


	George Tucker        tucker@kali.hac.com
		Just say NO to incumbents.
Xref: sparky clari.tw.stocks:109 misc.invest:6866