HDTenEightyP/NetNews huggingface dataset:
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Subject: Re: is it time to invest in Japan?
Originator: acheng@shalom.ncsa.uiuc.edu
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Date: Fri, 21 Aug 1992 15:12:19 GMT


In article <1992Aug20.153004.6688@newstand.syr.edu>, szhu@rodan.acs.syr.edu (Shane Zhu) writes:
>But two other factors got to be taken into the picture here: Japan's leading
>technology and its ever increasing investment and export toward uprising
>east Asia, especially China, market. Just consider the potential. Also in a
>LONG run, it is kind of visible that Japan might be well in a position to 
>lead the world technology in the 90's and next century.

So was U.S.A. in the 50's and 60's.  The only industrial country not
touched by wars (so was Canada but it is less populated).  Quite a
boom for US economy for a couple decades.  Then Japan and Germany
got up and competed hard.

If China does not go nut again and continues "capitalism", it will
become a strong competitor against Japan.  The vast resource, both
natural and human, of China can give Japan a big blow.  And if the
Americans wake up to work hard instead of waiting for Uncle Sam
handouts, Japan will be squeezed hard on both sides, high end
techology and low end consumer goods.

>Now that so many experts as well as media all have been predicting further
>downwardness of Japanese market, it might be ABOUT the time to get in. A true
>contrarian might intuitively see an opportunity to beat the crowd in the
>making.

Yes, I agree.  I think Japan may still have one more boom to go before
really hard pressed by others.
Newsgroups: misc.invest
From: scairns@is.morgan.com (Scott Cairns)
Subject: Re: Bond Questions
Organization: Morgan Stanley - IS
Date: Wed, 19 Aug 1992 19:52:11 GMT

In article <1992Aug13.215944.17401@sequent.com>, hanrahan@sequent.com (Tom Hanrahan) writes:
|> I read an article in my local paper this morning about yesterday's
|> 10-year note auction.  It raised several questions for me.  Here's a
|> quote from the article to start with:
|> 
|> 	"The notes will carry a coupon interest rate of 6 3/8
|> 	 with each $10,000 in face value selling for $9,916.30."
|> 
|> Questions:
|> 
|> 	2)  I know when you submit a bid you have two choices, a 
|> 	    competitive bid and a non-competitive bid.  With the 
|> 	    competitive bid you can specify the discount price you
|> 	    want.  Can you specify a coupon rate instead? 

	Unless I'm greatly mistaken, I believe you only have one
choice as an individual investor (i.e., non-competitive).  To submit
bids, you must be a primary dealer with the Fed (e.g., Salomon, Goldman,
Morgan-Stanley,etc.).   BTW, they (the primary dealers) do specify the
discount rate, they don't specify a price/dollar amount.
	The non-comp bids get filled after the comp bids at the average
competitive rate if I'm not mistaken.

|> There seems to be a lot under the old saw "when rates go up bonds go
|> down, and when rates go down bonds go up."
|> 
|> Tom Hanrahan	           	
|> hanrahan@sequent.com

-- 
+------------------------------------------------------------------+
| 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: jwu@ds5000.DAC.Northeastern.edu (John T. Wu)
Newsgroups: misc.invest
Subject: Two basic questions **
Keywords: capital loss, bonds
Date: 13 Aug 92 18:32:40 GMT
Organization: Northeastern University, Boston MA. USA 02115

I I am relatively new to the wod of investing and
have two basic questions I can't seem to find ready
answers for:

1.)  When you take a capital loss with mutual funds or
     any other investment, can you apply that against
     your earned income come tax time?  How much?

2.)  When you buy government saving bonds, I have heard
     that they pay 6% if you hold them for five years.
     If you hold them longer than that (e.g. lose track
     of them and find them a decade later) do you receive
     6% interest on the entire time you held them, or just
     the original five years?

Thanks for listening.
John
From: markh@sag4.ssl.berkeley.edu (Mark Hurwitz)
Newsgroups: misc.invest
Subject: Naive question...
Date: 13 Aug 1992 20:49:08 GMT
Organization: Space Science Labs
Distribution: usa
NNTP-Posting-Host: sag4.ssl.berkeley.edu


	Forgive me for asking something so simple-minded, but I'm
having trouble reconciling the following two "true-isms."

Item 1.  "The stock market has, historically, out-performed inflation.
Despite short term fluctuations, it's the best place to put your money."

Item 2.  "The DJIA (substitute market metric of your choice) is at (or
near) an all-time high.  Stocks are overpriced.  Market is likely to fall  
significantly, or stagnate at best.  Don't risk money in the market!"

	So hold on a second.  For "the market" to outperform inflation
it must be on the rise more or less all the time, and at a significant
rate. Therefore many to most individual stocks must almost always trade 
near their all-time high.  This should be the normal state of affairs, not 
something to be panicked about.

	People often bandy about returns on the order of 15% per year, or
more, including dividends.  Assume dividends represent 6% (generous).  That 
means "people" expect prices to climb *at least* 9% per year or so.  Over 10
years, that translates to an increase of 2.367 in prices.  In August
2002, "people" must expect the DJIA to be floating around 8050, or
significantly higher, no?  Any "people" out there feel differently?

	So what is it about the current situation that generates comments
like those in Item 2?  Is it that the market has gone up too quickly?
For Item 1 to be true, then the DJIA must have been expected to
get to 3400 at some point without causing jitters.  When was the DJIA 
"supposed" to hit 3400?  How far have we diverged from the "normal"
positive, linear function?  

Thanks in advance,
Mark
Newsgroups: misc.invest
From: xcpslf@decsrv.NoSubdomain.NoDomain (stephen l favor)
Subject: Re: How do I get rid of broker????
Reply-To: xcpslf@oryx.com
Organization: Oryx Energy Co., Dallas, Texas.
Date: Thu, 13 Aug 1992 18:00:42 GMT

|> In article <1992Aug13.011440.28871@adobe.com> kendall@adobe.com (Janice Kendall) writes:
|> >In article <jaeastman-120892184355@jmac.msd.anl.gov> jaeastman@anl.gov (Jeff Eastman) writes:
|> >>I'm curious if anyone can provide me with some good advice. A couple months
|> >>ago I made the mistake of buying 100 shares of stock from a broker 
|> >

You should cross post this to some of the other groups like sci.psychology.
You can probably get some good tidbits from there.  Sounds like he's playing
a big-time game with you.  Let's call it bug-em-til-they-buy.  The most
important thing to remember about people doing this kind of crap is that once
they get any kind of response, they can do something with it.  So, what you
want to do is make them eat silence or get the same response every time.

I think the previous posting about laying the telephone on the table is
note-worthy.  Except, you should not say anything.  The instant you
recognize it as this man, you should lay the phone down.  Get a copy
of Mahailia (sp?) Jackson's Greatest Hits and play it in the phone when
he calls!  No offense to any M.J. fans out there.

At work you could be very crude and transfer him to security every time he
calls.  At home, an answering machine can filter him out nicely.  Start
your message with "Hi. (pause) Who is this? (pause) Well, I'm not home...."
Of course, this could get irritating for those people to which you actually 
want to speak.

Be ready for him to resort to different tactics once his current ones begin
to fail.

And by all means take any of the legal actions posted in other notes.  But
don't try to threaten him with them.  Just do them. 

Newsgroups: misc.invest
From: barmar@think.com (Barry Margolin)
Newsgroups: misc.invest
Subject: Re: Broker Solicitation
Date: 21 Aug 1992 08:12:08 GMT
Organization: Thinking Machines Corporation, Cambridge MA, USA
NNTP-Posting-Host: gandalf.think.com

In article <NY95UMS@mailgzrz.tu-berlin.de> paul@cs.tu-berlin.de writes:
>According to the efficient market theory there is no value
>in reading research reports or even financial newspapers. There
>are thousands and thousands of people getting the same information
>at the same time.

And in order to just keep up, you need at least as much information as
them.  You may be able to beep the market if you have some unique
information, but most individual investors don't have access to enough of
that to make a real difference.  All we really want is a way to do better
than we would if our money were in the bank.  You can usually do that just
by investing in an index fund, and investing based on common financial
information is generally better than that.

>So don't care if the research reports are from Value Line or XYZ.
>It's all the same stuff, worthless. If a brokerage recommends a stock,
>tell them that they should buy the shares themselves. With such good
>research, every employee of the brokerage will soon make his first
>million and can stop drumming up business.

This has some validity, but it's a bit extreme.  Different investors have
different goals and risk aversion levels.  A stock recommendation that's
appropriate for a particular customer may not be appropriate for the broker
making the recommendation.  A broker may not have enough of his own money
to invest in all the stocks he's pushing to his stable of customers.

Is it even possible to strike it rich simply by investing in the public
markets?  Most of the billionaires I can think of got that way through
direct ownership of valuable things.  Bill Gates, Ted Turner, and Sam
Walton started extremely successful businesses.  Donald Trump owned
property in Manhattan.  Bill Cosby provided his services.  It's hard for
the stock market to provide these kinds of returns over the long term.

-- 
Barry Margolin
System Manager, Thinking Machines Corp.

barmar@think.com          {uunet,harvard}!think!barmar
Newsgroups: misc.invest
From: edd@gvls2.gvl.unisys.com (Ed Dougherty)
Subject: Re: Phar-Mor
Organization: Unisys Defense Systems, Great Valley Labs, Paoli, Pa
Date: Thu, 20 Aug 1992 19:36:10 GMT

In article <92233.132606AXD2@psuvm.psu.edu> <AXD2@psuvm.psu.edu> writes:
>Phar-Mor is a closely held corp. The public is not involved.

The public is involved (me) because they owe Foxmyer $74Mil. :-)
Fortunately, FOX seems able to weather the storm.

edd
From: otten@quark.umd.edu (Neil Ottenstein)
Newsgroups: misc.invest
Subject: Handbook of No-Load Mutual Funds
Date: 22 Aug 92 21:52:38 GMT
Distribution: usa
Organization: /etc/organization

I am considering purchasing the absolute best book on mutual fund
investing.  Sheldon Jacob's book, "The Handbook of No-Load Mutual Funds"
has been recommended to me as meeting that qualification.  The 12th edition
for 1992 has just been published.  Has anyone seen this, or previous
editions.  I'd appreciate your comments on this, as well as other books
on this topic.

Neil Ottenstein
otten@quark.umd.edu


Newsgroups: misc.invest
From: scairns@is.morgan.com (Scott Cairns)
Subject: Re: Bonds: How long is "long-term"?
Organization: Morgan Stanley - IS
Date: Fri, 21 Aug 1992 19:51:30 GMT

In article <ASHWIN.92Aug21125908@leo.gatech.edu>, ashwin@gatech.edu (Ashwin Ram) writes:
|> The accepted wisdom on misc.invest at present seems to be not to buy
|> long-term bonds because when interest rates rise (as they probably will), the
|> value of these bonds will drop.

   Whoa, hold on there...  I hope this is not the "accepted wisdom" of the misc.invest.

   The question when dealing with bonds of any term is not the length of the term
   but what is your investment horizon?  In other words, how long is your expected
   holding period and what is the "duration" of the particular bond.

   The universal axiom "if interest rates rise, bond prices fall & vice versa" is
   true.  But consider the following example.  I buy a 30-year Treasury Bond with
   a duration of 8 years.  (If you don't know what duration is, this may not make
   sense, you can think of it generally as a kind of weighted average by time of
   the present values of the cashflows).

   At a duration of 8.0, if my investment horizon (or holding period) was twenty
   years and interest rates rose over that period, I would be better off despite
   the loss on principal because I would be receiving a higher reinvestment rate
   on the coupon payments that would more than offset the decline in principal
   value.  

   Conversely, if rates declined enough during the same period and same scenario,
   I'd actually be worse off!  The decline in reinvestment rates would more than
   offset the market value of the bonds!

   If you know your investment horizon and you know the duration of a particular
   bond or, for that matter, the duration of an entire portfolio you should be
   able to invest in any length of term fixed-income investment.  



-- 
+------------------------------------------------------------------+
| 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: waynel@gumby.Altos.COM (waynel)
Newsgroups: misc.invest
Subject: Silicon Graphics + MIPS
Keywords: Silicon Graphics, MIPS, Stock
Date: 18 Aug 92 17:17:45 GMT
Organization: Altos Computer Systems, San Jose, CA


Hi, folks.

	As you known, Silicon Graphics had completed the acquisiton of MIPS
Computers. Now SGI stock is traded at 21 5/8 per share, PE is about 35. Any
comments on their near future are appreciated.
From: McAldon International Inc. <mcaldon@igc.apc.org>
Newsgroups: misc.invest
Date: 21 Aug 92 22:59 PDT
Subject: Re: Buying down....
Nf-ID: #R:hpfcso.fc.hp.com:8190099:cdp:1426500247:000:999
Nf-From: cdp.UUCP!mcaldon    Aug 21 22:59:00 1992


|> Correction!  "Fix-up" expenses such as a new roof, painting, even 
|> papering walls and carpeting, ARE deductible (includible in cost basis)
|> provided they are completed no more than 90 days prior to sale. DMcKenzie
|
|Sigh.  Once again the ignorance of the net comes through.  The above
|information is wrong.  This subject comes up regularly.
|
|Fix-up expenses are *never* deductible.  Under certain circumstances, they
|enable you to *defer* taxes (not deduct -- note the difference).  I.e., you
|can reduce the amount of the gain that is taxable *in the current year*.  The
|tax *will* ultimately be paid.
|[...]
|-Jim

My language was faulty but the gist was correct.  The fix-ups are deductible 
FROM THE SELLING PRICE.  So what's the difference?  You pay tax on the profit
-- selling price minus cost basis.  Reference: JK Lasser,1992.  DMcKenzie

|    mcaldon@igc.org     | Opinions dispensed herein not guaranteed |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

Newsgroups: misc.invest
From: jlee@shearson.com (Jeff Lee)
Subject: Apartment building.
Organization: Lehman Brothers, NY
Distribution: usa
Date: Thu, 20 Aug 1992 22:05:49 GMT

Are there any differences between a 2-family, 4-family, 6-family, and 
more-than-6-family apartment buildings with respect to taxation,
legal, etc????

Someone is looking at these different kinds of properties and wondering
what are behind these buildings.  He is a first timer and need all
your help.  Please help!

Thanks in advance,



--
......................................................................

jlee@shearson.com
Believing that it can be done is half of the task and the first step 2.
From: eder@hsvaic.boeing.com (Dani Eder)
Newsgroups: misc.invest
Subject: Re: Companies trading near book value
Date: 17 Aug 92 13:35:59 GMT
Distribution: usa
Organization: Boeing AI Center, Huntsville, AL

>In article <l8l3u2INNpnm@exodus.Eng.Sun.COM> leons@hiroller.Eng.Sun.COM () writes:
>>Is it possible (or even normal) for a company to trade below the
>>book value?  It seems to me that the answer is no, since in this
>>case it will be profitable for someone with lots of money to buy
>>the company and just sell its assets.
>>
An even more telling price mark is a stock selling below net
current assets.  

Net current assets = current assets - all debt

Since current assets are things like cash on hand and inventory,
and exclude stuff like capital assets, if you buy a company
at such a price, you merely have to sell off current production
to equal the share price.  Anthing you get from the plant and
equipment in a breakup sale is gravy.  Of course it is always
possible that the company is on a terminal spiral to bankruptcy,
but you have to take such chances to invest.

An anecdotal example:  In the depths of the 70s aerospace
bust, there was a time when the shares of the Boeing company
were selling for less than the price of the unsold, completed
747s sitting at the airport waiting for customers.  In other
words, you could have bought a few dozen airplanes, and got
the company thrown in free.  Now thats a bargain.  The stock
price has risen by a factor of 50 or so since then.


-- 
Dani Eder/Boeing/Advanced Civil Space/(205)464-2697(w)/232-7467(h)/
Rt.1, Box 188-2, Athens AL 35611/Member: Space Studies Institute
Physical Location: 34deg 37' N 86deg 43' W +100m alt.
***THE ABOVE IS NOT THE OPINION OF THE BOEING COMPANY OR ITS MANAGEMENT.***
Newsgroups: misc.invest
From: tjm@leland.Stanford.EDU (Timothy Minvielle)
Subject: Warrants vs. Call Options
Organization: DSG, Stanford University, CA 94305, USA
Date: Tue, 18 Aug 92 22:59:28 GMT

I apologize if this is a FAQ, but could someone please explain to me the difference between a warrant and a call option.  They both seem to give the holder the right to purchase stock at a future date at a pre-determined price.

Thanks in advance.
From: klug@Software.Mitel.COM (Peter Klug)
Newsgroups: misc.invest
Subject: Re: What shows on TV worth watching as an investor?
Date: 14 Aug 92 14:06:46 GMT
	<1992Aug12.143813.22996@SSD.intel.com>
Organization: Mitel Corporation; Kanata, Ontario, Canada
In-reply-to: tim@ssd.intel.com's message of 12 Aug 92 14:38:13 GMT


In article <1992Aug12.143813.22996@SSD.intel.com> tim@ssd.intel.com (Tim Gates) writes:

   There is a show call "The Nightly Business Report" or NBR that is shown on
   the public broadcasting channel (PBS) here in Oregon.  I'm assuming this is
   a nationally broadcasted show because the hosts (2) are located in Miami and 
   New York City, they do a teleconference-type program.  The show mostly covers
   the stock market with a little information from futures and bonds.


In Ottawa (Canada), we get NBR on cable from the PBS station in
Watertown, New York.  It seems to get a large distribution.

In Canada, I think CBC Newsworld gives regular updates throughout the
day.  I usually only get to see their evening program at 6:30.  The
Business Report is mainly geared towards Canadian interests but they
also go through the usual routine of how all the foreign markets did.
The American foreign markets naturally get more air time than others.
I guess you're closer to our hearts :-).


--
*        Peter Klug         *  Peter_Klug@Software.Mitel.COM
*     Mitel Corporation     *  
*  Kanata, Ontario, Canada  *  Nostalgia ain't what it used to be.
Newsgroups: misc.invest
From: federkin@rtsg.mot.com (John Federkins)
Subject: Re: A few Options Questions
Organization: Motorola Inc., Cellular Infrastructure Group
Distribution: usa
Date: Tue, 18 Aug 1992 17:15:17 GMT

ask@cbnews.cb.att.com (Arthur S. Kamlet) writes:
>My broker charges approx  $8.75 + 3.85 mailing fee = 12.60 to
>write the XYZ Sep 30s trading at 3/8.

>So I would get 100 * $0.375 = 37.50-12.60 = 24.10.

Shouldn't that be 100 * $.375 = 37.50 + 12.60 = $50.10 ???

By the way, are commissions & fees stil $12.60 if you buy 1000?

-- 
------------------------------------------------------------------------
   "The sooner you fall behind, the more time you have to catch up!"
John Federkins				Cellular Infrastructure Division
Motorola, Inc.				Arlington Heights, IL
From: jerry@rat (Jerry Nash)
Newsgroups: misc.invest
Subject: Re: infomation about stocks or bonds issued by China needed
Date: 12 Aug 92 18:43:25 GMT

In article <1992Aug11.233156.13468@magnus.acs.ohio-state.edu>  
JHUANG@kcgl1.eng.ohio-state.edu (Jianzhong Huang) writes:
> 
>  Does anybody have information with regard to stocks or bonds issued
> by China or other countries in the far east region?
> 
>  It will be greatly appreciated if you can provide info., such as
> contact address, earning potential, etc. The economic future in this
> region looks to be very bright, investment in this region shouldn't be
> a bad idea.

There are three closed end funds which just came out: the China Fund, the  
Greater China Fund, and one more whose name I can't think of. They all trade   
on the NYSE and plan to invest primarily in China. Good luck. 
Newsgroups: misc.invest
From: waligora@hsi.com (Robert Waligora)
Subject: Re: How do I get rid of broker????
Organization: 3M Health Information Systems, Wallingford CT
Date: Thu, 13 Aug 1992 14:39:06 GMT

>In article <jaeastman-120892184355@jmac.msd.anl.gov> jaeastman@anl.gov (Jeff Eastman) writes:
>>I am just 
>>wondering if there is some kind of regulatory agency I can report this guy
>>to?  Is he actually
>>breaking any rules in calling me over and over?  He called today and let my
>>phone ring 5 minutes
>>after I hung up on him.
>>
>>_______________
>>Jeff Eastman
>>jaeastman@anl.gov
>>_______________

Tell him that if he calls you one more time you will report him to the
police for harrassment. It is illegal for him to harrasse you by way of phone.
At the least you could get his phone disconnected. If you wanted to 
follow up on it, you could take him to court.
-- 
+---->----> Robert Waligora ---->---->---->---->---->---->---->---->---->---->
| Yes it's "WALLY MAN", He dices,                  waligora@hsi.com
| He slices, He even makes julienne fries.    {uunet, yale}!hsi!waligora
|                          - from WHAMMCO           (203)949-6481
Newsgroups: misc.invest
From: arun@tera.com (Arun Kumar)
Subject: Address for EVRX
Organization: Tera Computer Company, Seattle, WA
Date: Thu, 20 Aug 1992 17:26:15 GMT

I would like to get the Annual Report for Everex (EVRX).
Does any one knows their address or telephone.

Thanks.
Arun

emai: arun@tera.com
Newsgroups: misc.invest