HDTenEightyP/NetNews huggingface dataset:
From: etpeters@dal.mobil.com (E. T. Peterson(Eric))
Subject: Re: Real Life PUT question
Organization: Mobil Exploration & Producing Technical Center(MEPTEC), Dallas. 
Distribution: usa
Date: Fri, 22 Jan 1993 20:23:55 GMT

In article <C19Mpy.Mv1@SSD.intel.com>, tim@ssd.intel.com (Tim Gates) writes:
|> I'm a little confused by a current PUT price of an option and the underlying
|> stock price.  Can someone address this?
|> 
|> A stock, lets call it XYZ, is trading at 9.  The current month (FEB) PUT 
|> price, strike price being 15, is 1 1/4.
|> 
|> This is confusing in that the option has an intrinsic value of 6 points.
|> Why isnt the 15 PUT option price reflecting this?

You are right that something is strange here.
There must be a typo in your source for the stock price or the put
price.  The put should sell for at least 6.

Another possibility is that the stock had a recent 2-1 split, and the
strike of 15 is an old strike that has not yet been corrected to 7.5
in the quotes.  Then the 1 1/4 price would be reasonable.

*********************************************************************
Eric Peterson                  The sooner you fall behind,
Research Geophysicist          the more time you'll have to catch up!
(214) 951-3251
etpeters@dal.mobil.com
*********************************************************************
Newsgroups: misc.invest
From: tony2@prefect.cc.bellcore.com (gozdz,antoni s)
Subject: Re: REQUEST: Rate of return in a mutual fund
Organization: Bellcore, Livingston, NJ
Distribution: na
Date: Sat, 23 Jan 93 00:48:53 GMT

In article <KLUG.93Jan22084644@klug.Software.Mitel.COM> klug@Software.Mitel.COM (Peter Klug) writes:
>
>Could someone explain how to calculate the rate of return on a mutual
>fund investment?
>
>I know how to calculate the rate of return for a simple stock purchase
>and subsequent sale.  It's pretty straightforward since there is only
>a single amount and a single time frame to deal with.
>
>However, in a mutual fund or even if you split your stock purchase
>into a couple of sales at different times, all of a sudden the
>solution is not obvious to me.  So far all I've been able to come up
>with is to calculate a weighted average.  Can anyone clarify this?
>Thank you.
>
>--
>*        Peter Klug         *  Peter_Klug@Software.Mitel.COM
>*     Mitel Corporation     *  
>*  Kanata, Ontario, Canada  *  Nostalgia ain't what it used to be.

I think pfroi v.2.4 (PFROI24.ZIP) (a shareware on
oakland/pub/msdos/finance; IP 141.210.10.117)
does a very good job in tracking investments and doing
such calculation for you.

Version 5.0 is $29 (+$4 S&H), allegedly much improved).

Tony Gozdz
tony2@cc.bellcore.com
From: rlcarr@animato.network23.com (Rich Carreiro)
Newsgroups: misc.invest
Subject: 1256 contracts
Distribution: world
X-NewsSoftware: GRn 1.16f (10.17.92) by Mike Schwartz & Michael B. Smith
Date: 26 Jan 93 22:47:15 EST
Organization: The Other Side of Life

Are normal put and calls sold on the options exchanges IRS Section 1256
contracts?  What exactly is a section 1256 contract, anyway?

-- 
Rich Carreiro                                  Home: (401)841-8514
rlcarr@animato.network23.com
uunet.uu.net!animato!rlcarr
Newsgroups: misc.invest
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Subject: Re: Ames Department Stores
Originator: acheng@shalom.ncsa.uiuc.edu
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Date: Thu, 21 Jan 1993 19:29:48 GMT


In article <24795@hacgate.SCG.HAC.COM>, tucker@shiva.edsg.hac.com (George Tucker) writes:
>Barron's mentioned Ames is selling on a when-issued basis for about $1.50
>(I checked, and it is.) and predicts $1.65/share earnings.  Obviously
>there is a catch.  Does anyone know what it is?

I thought Ames went chapter 11.  The local one closed couple years
ago.  Have they come out of it?
From: koziarz@chinet.chi.il.us (Louis Koziarz)
Newsgroups: misc.invest
Subject: 20th Cent. Ultra and the NASDAQ
Date: 26 Jan 93 15:10:04 GMT
Distribution: usa
Organization: Chinet - Public Access UNIX

There's been some traffic recently about 20th Century Ultra, and some
other traffic regarding the overloaded NASDAQ and the potential for a major
(>40%?) correction sometime in the short term.  I'm a bit torn over whether
I should convert my shares in anticipation of this correction or ride the
storm out.

I understand the argument for a correction on the NASDAQ, there are some
extremely high P/E ratios flying around.  The lastest Forbes magazine has
an interesting article on some of these issues, also an interesting comment
about how gourmet food issues come about late in a bull cycle or something
like that (Case in point Starbuck's [SBUX.N] Issued 17 trading 39 P/E 100+)

But when I look through my Ultra annual report, the stocks listed aren't
in this overloaded P/E category.  I've trusted the decisions of the Ultra
managers to pick stocks that are not overloaded, and will show steady
growth through most cycles (except first 1/2 92 argh!).

Question is: should I trust Ultra through 1993?

topics here and
-- 
Louis Koziarz
koziarz@chinet.chi.il.us
Newsgroups: misc.invest
From: brody@eos.arc.nasa.gov (Adam R. Brody )
Subject: Discount Broker
Summary: What is best discount broker?
Keywords: broker
Organization: NASA Ames Research Center
Distribution: usa
Date: Fri, 22 Jan 1993 16:53:45 GMT

I am trying to find a good discount broker.  I tried T. Rowe Price and
Fidelity since I already have funds with them.  I also looked into
Schwaub.  Price was the cheapest of the 3.  I am assuming service is
pretty similar.  Anyone have experience with these or others that
would lead toward a recommendation?
From: davida@bonnie.ics.uci.edu (David A. Andersen)
Subject: Re: Quicken sources
Newsgroups: misc.invest
Reply-To: davida@ics.uci.edu (David A. Andersen)
Organization: Univ. of Calif., Irvine, Info. & Computer Sci. Dept.
Date: 23 Jan 93 06:23:20 GMT


>Anybody know of cheap places to purchase Quicken (for DOS)?  I found
>one source (EggHead software 1-800-egghead) that sells it for $40.
>
>Any cheaper than that?

CompUSA (Fountain Valley, CA and others) and Computer City (Westminster
or Garden Grove, CA and others) both sell Quicken for Windows for $25
($5 mail in rebate for upgrades).

I imagine that the DOS price is about the same.


David Andersen
UC Irvine
From: helen@access.digex.com (jayne levin)
Newsgroups: misc.invest
Subject: Farpoint BBS #?
Date: 27 Jan 1993 10:51:51 -0500
Organization: Express Access Online Communications, Greenbelt, MD USA
Distribution: na
NNTP-Posting-Host: access.digex.com
Summary: Need Ph.# to Farpoint BBS for historical stock quotes
Keywords: Farpoint

The misc.invest FAQ lists the Farpoint BBS in Chicago as a free source for
historical stock quotes (you pay any long-distance toll). The FAQ,
however, did not list the telephone number to access this BBS. If anyone
has it, I would appreciate it. Thanks. Jayne

Newsgroups: misc.invest
From: tony2@prefect.cc.bellcore.com (gozdz,antoni s)
Subject: Re: 20th Century Ultra & Nasdaq
Organization: Bellcore, Livingston, NJ
Distribution: usa
Date: Sat, 23 Jan 93 00:27:05 GMT

In article <1jp3lfINN5jc@rave.larc.nasa.gov> txn@sirius.larc.nasa.gov (Troung Nguyen) writes:
>
>I learned that NASDAQ is near the record high right now, and someone 
>is predicting that there will probably be a correction in the near 
>future.  I currently have less than $3000 in Twentieth Century
>Ultra, which invests heavily in Nasdaq companies.  Do you think it's
>a good time to sell some of the Ultra's shares?  What do you think 
>the level of the correction will be, 15%?
>
>Thank you,
>
>Truong Nguyen
>txn@radar0.larc.nasa.gov
> 

I've just finished running a reliable econometric
simulator (GW-BASIC 3.23) and got a very unsettling result:

?rnd(x) <CR> 
 .3116351 
Ok

There is no mistake, it's a >31 % drop!
I think I'll sell my Ultra, too ;-)

Tony
tony2@cc.bellcore.com
From: yoon@meaddata.com (Yoonho Ha)
Newsgroups: misc.invest
Subject: Certified Financial Planner
Date: 21 Jan 1993 18:43:05 GMT
Organization: Mead Data Central, Dayton OH
Distribution: usa
NNTP-Posting-Host: jaguar.meaddata.com

Does anyone out there know the steps that have to be taken to become a 
Certified Financial Planner, i.e., courses and/or exams that might have to
be taken? 

I've been bouncing the idea around of studying to become a financial planner,
but I don't know how to proceed.

In addition, has anyone heard of the College of Financial Planning?  It's 
supposed to be a study-at-home curriculum.  It seems very reputable, but I 
want other opinions.

Any help would be appreciated.

-- 
|Yoonho Ha                       (513) 865-1305| If at first you  |
|Mead Data Central            Data Enhancements| don't succeed,   |
|9555 Springboro Pike         yoon@meaddata.com| redefine success |
|Miamisburg, Ohio 45342 ...!uunet!meaddata!yoon|                  |
|______________________________________________|__________________|
Newsgroups: misc.invest
From: wendt@CS.ColoState.EDU (alan l wendt)
Subject: Beating the Dow Cheap
Date: Mon, 25 Jan 1993 00:39:34 GMT
Organization: Colorado State University, Computer Science Department

Beating the Dow by O'Higgens and John Downes has been remaindered
at my local BDaltons.  It's only $3!

To quote the back of the book: "The Micheal O'Higgen strategy set forth
in Beating the Dow is not only wonderfully simple and safe, but it works
consistently over time.  By following the O'Higgens method of buying
blue chips when they are out of favor and offering the highest yields,
small investors will often beat the pros at their own game without having
to be concerned about day-to-day stock market volatility" 
       Jordan Goodman, coaurthor of Barron's Finance and Investment Handbook

Alan Wendt
From: xzhu@crsa.bu.edu (Xiaoyan Zhu)
Newsgroups: misc.invest
Subject: Re: picks
Date: 27 Jan 93 07:43:53 GMT
Organization: Boston University


Has anyone looked at CVD (Conversion Industry)?  It is 15 3/8 I believe.
I was told that they will do very well this year and earning is
also expect to be good.

Well, I have CMD on my hand, got it at 10.25 and moved up 50% in less
than 10 days.  Still a lot of buying though.

Zhu
Newsgroups: misc.invest
From: chenl@cbnewse.cb.att.com (julian.l.chen)
Subject: Re: Any thoughts on Bristol-Myers?
Organization: AT&T
Distribution: usa
Date: Fri, 22 Jan 1993 13:50:27 GMT

jhsu@dcl-nxt54.cso.uiuc.edu (Jason Hsu) wrote :
>> Our investment club is considering purchasing Bristol-Myers Squibb  
>(BMY).
>> However, this stock has recently been pummeled by the hysteria over
>> Clinton's proposed health care reform.  The stock is about 64 now.
>
>I believe BMY is overvalued (though not a short sale candidate).   
>According to Value Line, the book value of BMY is only about $16/share (I  
>forget the exact figure).  At $64, the price/book value ratio is a  
>broiling-hot 4, compared with the S&P's historical average of 1.8.  I  
>believe that a bear market, earnings growth that slows down, or earnings  
>reports that fall a few pennies short of expectations will cause BMY to  
>crash.  However, if BMY crashes and has a price/book ratio of 2/3 or less  
>(bitter cold), the stock would be a screaming buy because of the earnings  
>and dividend growth.

First, to judge a stock just by its book value is very dangerous. Actually,
the book value probably is one of the most unreliable methold to consider
buying or selling a stock.

Auto and steel industry always carry a very low price/book value, then
do you think the big three are very under-valued ?  On the other hand,
growth stocks almost always has a very high price/book value, but history
proved growth stocks outperform these auto/steel stocks by a great
margin. For example, MSFT must grow more than 1000 times in the last 10
years, but if you judge it by book value you will never hit such great
winner. Also, IBM is way under its book value, are you going to buy IBM
today because its price/book ?

Second, the divident for BMY is about 4.7% today, from divident point
of view BMY is certainly not overvalued.

Third, the PE of BMY is about 15~16 now, again, although not too low,
it is not overvalued either.

BMY is a good company with solid foundmental and is likely to grow more
than 10% a year in the next few years. The only reason for BMY's depressed
price is due to the Clinton effect. I believe this political effect will
be short lived.

Julian
From: lib@cbnews.cb.att.com (Lib)
Newsgroups: misc.invest
Subject: Re: How to determine one's tax bracket?
Date: 27 Jan 93 17:20:19 GMT
Distribution: usa
Organization: AT&T

In article <1993Jan27.161206.8792@unocal.com> stgprao@st.unocal.COM (Richard Ottolini) writes:
>In article <1993Jan26.185800.15718@leland.Stanford.EDU> kmh@leland.Stanford.EDU (khanhmy hoang) writes:
>>	Could someone kindly explain how this percentage is calculated?
>>	Thanks.
>>
>
>
>(1) Earn money.
>(2) Fill out your income tax.
>(3) When you get to the line about computing your tax, lookup the formula
>    rather than the tax table.  The highest entry you pay is your bracket.
>
>Most people start doing this as teenagers.
  
Most native born Americans may do this but that leaves out 
about 2 billion people.
Newsgroups: misc.invest
From: gaertner@vnet.ibm.com (David Gaertner)
Subject: Opinions on compubrokers: E*TRADE, PCFN,...?
Summary: opinions sought
Date: Tue, 26 Jan 1993 01:18:04 GMT
Distribution: usa
News-Software: IBM OS/2 PM RN (NR/2) v0.16g by O. Vishnepolsky and R. Rogers
Reply-To: gaertner@vnet.ibm.com (David Gaertner)
Organization: IBM Austin

I just heard that PCFN on Prodigy became the largest 
brokerage by some measure which I don't remember.  I'm 
curious about the brokerage services available via 
CompuServe, Prodigy and the like.  Would you recommend 
any of them?  

Are they easy to use?  I do know that E*TRADE's interface is
seriously outdated, and Quick*Way uses the same interface.

Anybody know PCFN's commission schedule?

(Perhaps the answers should go in the FAQ.)

David Gaertner               TEAM OS/2
IBM Personal Software Products, Austin
My opinions are MY opinions.
Newsgroups: misc.invest
From: chung@rchland.vnet.ibm.com (Vicente Chung)
Subject: Short volumes
Date: Fri, 22 Jan 1993 23:39:51 GMT
Disclaimer: This posting represents the poster's views, not necessarily those of IBM
Organization: IBM Rochester


Is there any way to know what is the short outstanding on a particular stock? 
Also is the short selling volumes included in the Wall Street Journal 
volumes numbers?

-- 
Vicente Chung
CHUNG@RCHLAND.VNET.IBM.COM
Newsgroups: misc.invest
From: ov@head-cfa.harvard.edu (Olaf Vancura)
Newsgroups: misc.invest
Subject: Re: Closing Options Trading...
Date: 28 Jan 93 14:08:21 GMT
Distribution: usa
Organization: Smithsonian Astrophysical Observatory, Cambridge, MA,  USA

In article <1993Jan26.152551.28004@mobil.com> etpeters@dal.mobil.com (E. T. Peterson(Eric)) writes:
>
>By the way Olaf, did you use to play chess in Santa Clara, CA in early 1980's?
>I knew an Olaf Vancura there (not a common name!).
>
>*********************************************************************
>Eric Peterson                  The sooner you fall behind,
>Research Geophysicist          the more time you'll have to catch up!
>(214) 951-3251
>etpeters@dal.mobil.com
>*********************************************************************

One and the same!  Small world!  Drop me a line...

Olaf
ov@cfa257.harvard.edu
From: c6y092@rick.cs.ubc.ca (Julien Rene Sellgren)
Newsgroups: misc.invest
Subject: _Inside_Out_: a tale of insider trading
Date: 21 Jan 1993 17:03:44 -0800
Organization: Computer Science, University of B.C., Vancouver, B.C., Canada
Distribution: world
NNTP-Posting-Host: gambier.rick.cs.ubc.ca

I am currently reading _Inside Out_, by Dennis Levine, and I my 
jaw is hanging.  

It is a true story about Wall Street during the roaring eighties,
when the markets and the Merger and Aquisition Business were
booming.  Levine tells a factual tale about his carreer both as a
corporate deal-maker, and as a private inside trader.  He was
the first of many big players to get busted for his illegal trades. 

What amazes me is how much money these guys were pulling in, and 
how easy it was for them to do it.   Before he got caught and 
arrested in 1986, his insider deals were netting one million
dollars +.  Incredible.  Throughout the whole book, he constantly
re-iterates how easy it was: He simply went to work, and when
he found out through the normal course of daily business that
a company was beeing 'aquired' he would take up a position in
that company via his secret account in the Carabean.  When the 
takeover announcement was made public, he would sell out for an 
incredible profit... 

The cool thing about this book is that he goes into great detail
about the deals and the players he was involed with.  I am finding
it fascinating to learn how all these companies (whos names
I recongnize) were traded around like hockey cards by these billion
dollar tycoons.

I am not advocating insider trading, but this is a fascinating story.

-Julien
From: tpradeep@cs.tamu.edu (Pradeep K Tapadiya)
Newsgroups: misc.invest
Subject: Re: Quicken sources
Date: 21 Jan 1993 16:44:04 GMT
Organization: Computer Science Department, Texas A&M University
Distribution: usa
NNTP-Posting-Host: neuron.tamu.edu

In article <4020014@hplvec.LVLD.HP.COM> cola@hplvec.LVLD.HP.COM (Ken Colasuonno) writes:
>
>Anybody know of cheap places to purchase Quicken (for DOS)?  I found
>one source (EggHead software 1-800-egghead) that sells it for $40.  
>
>Any cheaper than that?

I think Egghead is currently offering quicken+turbo-tax bundle for $52.
If this is true, it looks like a good deal. 

Also, if you have a Sam's Warehouse in your area, check it out. Occassionally,
I have seen some software products to be cheaper at Sams than at Egghead.

Pradeep
tpradeep@cs.tamu.edu
Newsgroups: misc.invest
From: temiraso@vela.acs.oakland.edu (thomas e mirasol)
Subject: Re: Hot Funds for `93
Organization: Oakland University, Rochester MI.
Distribution: na
Date: Thu, 28 Jan 1993 02:48:13 GMT

In article <1k6ffsINNp2r@lynx.unm.edu> bhjelle@carina.unm.edu () writes:
>Although I should know better from past experience, I have
>an almost uncontrollable urge to buy into one of the hot
>funds (mainly small-cap or low-priced stock funds) that
>did well in `92. Examples: Kaufmann, Fidelity Low-Priced
>Stock. 
>
>Is this crazy? Please talk me out of it, and suggest
>better alternatives. I'd like to stick to stock mutual
>funds, something a little risky if possible.
>
Fidelity has a new fund called New Millenium fund.  According to a
recent WSJ article, NM can invest in just about any way its manager
pleases.  There are no limitations on the size of the stock it buys, the
amt of foreign stocks, or the currencies and countires in w/c the fund
invests.  

Neal Miller is the fund manager.  He describes himself as a stock picker
who tries to be early on a variety of trend changes.  He looks at forces
of change through 4 or 5 filters: legislative change, demographic
change, changes in social attitudes and those brought about by new
products and events, such as earthquakes or volcanic eruptions.

Newsgroups: misc.invest
From: shuo@viper.intel.com (Shuo Li)
Subject: Powersoft and Gupta Technologies
Reply-To: shuo@viper.intel.com (Shuo Li)
Organization: Intel Corporation
Date: Tue, 26 Jan 1993 00:53:07 GMT

    I heard that these database/network software companies are going
to hit the street this week. 
    Anyone knows the potentials of the two companies and what should
I call to enter a position?
From: gt@fc.sde.hp.com (George Tatge)
Newsgroups: misc.invest
Subject: Re: Act Now to Fight the Deficit
Date: 26 Jan 93 18:06:22 GMT
Distribution: usa
Organization: HP SESD, Fort Collins, CO
NNTP-Posting-Host: georget.sde.hp.com
X-Newsreader: TIN [version 1.1.4 PL6]

Gordon Hamachi (hamachi@adobe.com) wrote:
: I've read "Bankruptcy 1995: The Coming Collapse of America and How to Stop It"  
: by Harry Figgie, and it scares the hell out of me.  According to Figgie, the  
: most likely results of inaction on the deficit are:
: 
:        A catastrophic market panic
: 	   Hyperinflation
: 	   20% of American jobs gone
: 	   Social Security payments cut or eliminated
: 	  

Excuse my extreme skepticism.  If you are really convinced that this
is all going to happen, why don't you just take the appropriate
measures to get rich when it does?  I'm always hearing doomsayers
and almost never will they back up their predictions with their
money.

If you've borrowed all the money you possibly can at todays low 
interest rates and taken every penny you can lay your hands on
and shorted all the bank stocks and blue chips and done other
such pre hyperinflation sensible things than I might be more
inclined to listen.  If not, well then it's just more chicken
little isn't it?

gt
From: sullivan@cs.washington.edu (Kevin Sullivan)
Newsgroups: misc.invest
Subject: Lutheran Brotherhood Mutual Fund: Evaluation?
Date: 27 Jan 93 19:09:26 GMT
Organization: Computer Science & Engineering, U. of Washington, Seattle

Folks,

A friend of mine with no interest in managing her money has about 10K,
invested, on her behalf by her parents, in the Lutheran Brotherhood (LB)
fund.  Without expending a lot of effort, I'm trying to evaluate this
position.  I have ordered their prospectus and annual reports.  (We don't
even know, at this point, what her returns have been over the years.)

Any information on this fund or reactions to having 1/2 of one's liquid
capital invested there would be appreciated.  Response by e-mail is best.

Thanks,
Kevin
-- 
Kevin Sullivan
Department of Computer Science and Engineering, FR-35
University of Washington
Seattle, WA 98195 
Newsgroups: misc.invest
From: jdart@donner.Rational.COM (Jon Dart)
Subject: Re: 20th Cent. Ultra and the NASDAQ
Organization: Rational, Santa Clara, CA
Distribution: usa
Date: Thu, 28 Jan 1993 19:24:17 GMT

In article <C1GvGw.AGH@chinet.chi.il.us> koziarz@chinet.chi.il.us (Louis Koziarz) writes:
>There's been some traffic recently about 20th Century Ultra, and some
>other traffic regarding the overloaded NASDAQ and the potential for a major
>(>40%?) correction sometime in the short term.  I'm a bit torn over whether
>I should convert my shares in anticipation of this correction or ride the
>storm out.
>

IMO, Ultra is one of the riskiest mutual funds you can buy.  It is true
that they probably avoid  IPO's with 100 P/E's, but like the other 20th
Century funds, they look for stocks that already show momentum in earnings
(and possibly trading volume) - these stocks also tend to be rising in
price, and are often expensive relative to the market.

This is not necessarily bad - they also have had excellent returns over
the past few years.  But you need to know what you are getting, and 
appreciate that what goes up fast, can go down fast, too.  

I personally don't believe in timing the market (I've tried, and I have
a lousy record at it).  So I put my $$ into places where I can tolerate
the risk and get reasonable returns, and keep it there.  If you're no
comfortable with Ultra's risk level, I'd look for something safer.  But
I wouldn't do it on anticipation of a correction - such anticipations
can be wrong, or at least mistimed.  I'd do it only if I decided Ultra
didn't fit my long-term investing goals any more.

-- Jon

--
Jon Dart  | 3320 Scott Blvd.,          | jdart@rational.com|
Rational  | Santa Clara, CA 95054-3197 |                   |
          | 408-496-3656               |                   |
From: tjordan@atlas.corp.sgi.com (Ted Jordan)
Newsgroups: misc.invest
Subject: Simulation Software - PD?
Date: 21 Jan 93 18:07:47 GMT
Organization: Silicon Graphics, Inc.

Is there any public domain investment simulation software that one would
recommend? Preferably public domain (and a place where I can get it).

Thanx!!

tj



--
theodore p mugabe jordan                       silicon graphics, inc.
email: tjordan@sgi.com                         phone: 313-478-5446
internal ms: mr225                             fax: 313-478-3181
Newsgroups: misc.invest