HDTenEightyP/NetNews huggingface dataset:
From: larry@st-andy.uucp (Larry Martell)
Subject: Re: Cable's secret weapon
Reply-To: uunet!st-andy!larry (Larry Martell)
Organization: RMJ Securities Corp.
Date: Mon, 13 Apr 1992 17:51:27 GMT

In article <1992Apr13.012924.13567@watson.ibm.com> artg@titanic.watson.ibm.com (Art Goldberg) writes:
>
>A fascinating cover story in Forbes this week talks about how
>Cable TV is more likely than the phone companies to offer custom
>digital service to the home.  
>
> [ description of Forbes article deleted ]
>
>my instinct is that cable will provide us with alot more service in the
>next few years and that the systems should be able to generate more
>cash flow without many more expenses.   your thoughts?

Until the RBOC's are freed from Judge Green's yoke (if they ever are) we won't
know what the phone companies are likely to offer. Does anyone besides me
feel that having 1 non-elected, not answerable to anyone, old man with so
much power over the telecommunications industry, is not the best thing for us
(the consumer)?
-- 
Larry Martell                  "Opinions are like assholes; everybody has one, 
212-668-9478		        but nobody wants to look at the other guys"
uunet!st-andy!larry
From: jprice@eecs.cs.pdx.edu (James Price)
Newsgroups: misc.invest
Subject: Re: Fin Hlth Sci, 20th Cent Ultra plummet
Date: 7 Apr 92 18:58:33 GMT
Article-I.D.: pdxgate.5271
Organization: Portland State University, Portland, OR

In article <5269@pdxgate.UUCP> jprice@eecs.cs.pdx.edu (James Price) writes:
> Ultra had a high of about $17.80 or so a few months back and is now down
>
   its 52-week high is about $18.80, this $17.80 figure is just for the
past few months I have been noting its gains and declines....   

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: bakken@cs.arizona.edu (Dave Bakken)
Newsgroups: misc.invest
Subject: Re: Is IBM stock worth buying?
Date: 16 Apr 92 17:01:04 GMT
Organization: U of Arizona CS Dept, Tucson

In article <21263@hacgate.UUCP> tucker@shiva.hac.com (George Tucker) writes:
>In article <1992Apr15.164527.5963@usenet.ins.cwru.edu> bl528@cleveland.Freenet.Edu (Ken Meinken) writes:

>>I doubt that IBM will be a good long term investment anytime in the
>>short to medium term future.  Could they go back to $150?  Only if
>>the market really moves up (e.g. I doubt that we will see IBM at
>>$150 at least until the Dow breaks 4000 or 4500.) Others have 
>>suggested that IBM won't be around by the end of the decade. I don't
>>know, but I wouldn't put my money there.

>If that is the opinion of someone bearish on IBM, then it must be
>a pretty good investment.  It will be up 50% when the Dow is up
>25-30%.  Let's hear what the IBM bulls say!


>	George Tucker        tucker@kali.hac.com
>		Just say NO to incumbents.

This is not the only IBM bear opinion.  A number of us think it
is likely that IBM will shrink to, say, 10%-20% of its current
size over the next decade or two.  Can't be great on dividends
or earnings growth...


--
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: McAldon International Inc. <mcaldon@igc.org>
Newsgroups: misc.invest
Date: 11 Apr 92 21:00 PDT
Subject: WATERHOUSE
Nf-ID: #N:cdp:1426500158:000:157
Nf-From: cdp.UUCP!mcaldon    Apr 11 21:00:00 1992


Investor's Bus. Daily, 4/13/92 cover date, has a feature article on
Waterhouse discount brokerage.
From: timlee@public.btr.com
Newsgroups: misc.invest
Subject: Re: Closed-End Fund Questions
Date: 15 Apr 92 05:02:59 GMT
Reply-To: timlee@btr.com (Timothy J. Lee)
Followup-To: misc.invest
Distribution: usa

cox@unx.sas.com writes:
|
|1. Looking at the listing in Monday's Wall Street Journal, some funds
|seem to be traded way over Net Asset Value and some way under.  For
|example, Gemini II Capital's Stock Price is 12 3/4 but its net asset
|value is $16.63 (or 23.33% below net asset value).  Gemini II Income's
|Stock Price is 13 5/8 while its net asset value is only $9.52 (or 43.12%
|above net asset value).  Am I missing something or shouldn't closed
|end funds be trading very close to their net asset value?

People often bid up or down a closed end fund based on their expectation
of the fund's near term future.  While an open end fund creates and
destroys shares continuously to satisfy buy and sell demand, a closed
end fund does not, so loss of investor interest drives prices down and
increased interest drives prices up.

Gemini II is a dual fund -- one share class gets all of the dividends,
while the other gets anything above a certain amount upon liquidation.
The dividend class is richly priced since the dividends are quite high.

|Otherwise, why would anyone ever buy a fund way over its net asset value,
|and why would anybody ever buy a regular mutual fund when they could get
|one at almost a 25% discount?
 
You might not be able to sell it at other than a 25% discount.

Even so, buying a deeply discounted closed end fund may be worth it,
since the dividends passed though are the same as if you paid full
price.

|2. Do you get prospecti for these funds the same way you do for open-ended
|funds?  How do you obtain said prospecti (i.e. phone numbers for funds
|do not appear to be as easy to obtain).

Normally, they don't issue prospectuses, though they will give you
an annual report if you ask.  Look them up in S&P Stock Reports
or Value Line (at the library).

|3. Will discount brokers trade in these funds?  Is it just like buying
|regularly listed stocks?

Generally yes.
 
|4. Can you normally get automatic dividend reinvestment in these funds,
|or must you always reinvest said dividends by broker?

Some funds have dividend reinvestment programs.  These would function
like dividend reinvestment programs offered by many regular stocks.

Newsgroups: misc.invest
From: kevin@revcan.rct.ca (Kevin Rogers)
Subject: Canadian Stock Market oriented BBS's?
Organization: Revenue Canada, Taxation; Office Communications Division
Distribution: na
Date: Tue, 14 Apr 1992 02:11:51 GMT


	Are there any BBS's in Canada that keep historical stock data, 
    have investment forums etc.  I have found many such BBS's in the States
    but they only deal with the American Exchanges, as if the TSE, VSE, ME
    didn't exist.  If anyone knows of any could they please email the name
    and numbers of them.  Thanks in advance.

  Kevin Rogers
  Kevin@infotax.rct.ca 
Newsgroups: misc.invest
From: steve@fantasia.webo.dg.com (Steve Cairns)
Subject: Tax-free bond funds
Date: Mon, 6 Apr 92 15:58:26 GMT
Organization: Data General Corporation, Westboro, Ma.
Followup-To: steve@fantasia.webo.dg.com 

   I am thinking about investing in tax free bond funds.  Scudder's MASS.
Tax-Free fund looks very attractive paying 6.45%.  Can anyone offer comments
on the down-side risk here ?  I'd be in for long term (5+ years).
 
   Scudder, Vanguard, Fidelity and T.Rowe Price all have several no load tax free 
funds and seem to make it easy to move money in an out of all there funds.  Any
other favorites out there ?
From: jprice@eecs.cs.pdx.edu (James Price)
Newsgroups: misc.invest
Subject: Re: Little Dollars to Invest...
Date: 5 Apr 92 14:45:24 GMT
Article-I.D.: pdxgate.5250
Organization: Portland State University, Portland, OR

In article <1992Apr3.152431.21450@e2big.mko.dec.com> rac@omega.enet.dec.com (Ray Chibbaro) writes:
>and if you have 15+ years to let cost averaging and reinvesting returns
>work for you.  You need to be aware of any tax consequences too.  If
>all this language is foreign to you, you have a lot of reading to do
>before you start parting with your money.  Start with financial 
>periodicals (ie. Kiplingers personal finance mag), use forums like
>this & financial planners, but double check everything and make your
>own informed decisions.  It's your money, stay in control of it.
>
>good luck...
>-Ray

 The beginning investor should take a look into _Making the Most of Your Money_
by Jane Bryant Quinn, author of _Everyone's Money Book_. It's a pretty
readable and info-rich guide; most anything a person who is beginning
to take control of their money should be clued to is mentioned...
I think its great that once again its almost fashionable to be smart 
with money...people are even apparently paying off their credit cards,
somthings going right here...

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: croteau@ccwf.cc.utexas.edu (Ed Croteau)
Newsgroups: misc.invest
Subject: Socially conscious mutual funds
Keywords: mutual fund social conscious
Date: 26 Mar 92 14:19:47 GMT
Reply-To: croteau@ccwf.cc.utexas.edu (Ed Croteau)
Organization: The University of Texas at Austin, Austin TX
Originator: croteau@doc.cc.utexas.edu

Does someone have a list of socially conscious mutual funds and 
performance data, minimum investment, etc.

Thanks,

Ed Croteau
U. of Texas at Austin - Applied Research Laboratories
(croteau@ccwf.cc.utexas.edu)
From: markh@sag4.ssl.berkeley.edu (Mark Hurwitz)
Newsgroups: misc.invest
Subject: Info. on "local maxima" in the market
Date: 8 Apr 1992 21:28:18 GMT
Organization: Space Science Labs
Distribution: usa
NNTP-Posting-Host: sag4.ssl.berkeley.edu


Hello Net-folks:

	I thought I would pass along some info from
an article which my Dad sent me, taken without permission
from the Dallas Morning News (3/29/92).

	The writer's point is that although, broadly speaking,
stocks have been a good investment over the past N decades,
there have been "local maxima" during which, if you put all your
money into the market, your rate of return would be negative
compared to inflation for a very long period to follow (based
on S & P 500 index). 

	The writer considers the 20 quarters over the past 30 years
in which the average price-to-book ratio (please don't ask me to 
explain in detail) was highest.

	In *every* case for which there exists a 10-year data
set following the quarter (in order of decreasing Price / Book: 
Q3 1968, Q4 1968, Q1 1969, Q2 1969, Q3 1969, Q4 1969, Q1 1966, 
Q1 1970, Q4 1964, Q4 1965, Q1 1965), the ten-year return compared 
to inflation has been *negative*. 

	For those high P/B quarters for which 5-year data exist
(same list), 7 out of 11 quarters had negative returns compared
to inflation.

	For those for which 1-year data exist, 14 out of 17 had negative 
returns compared to inflation.

	Now, there are 3 quarters for which 1-year data do not
yet exist.  These were Q2, Q3, and Q4 in 1991.  For the first quarter
in 1992 (not included as one of the 20 in the statistical study),
the P/B ratio was at an *all time* high.

(For other indicators of market value e.g. Yields, P/E ratio,
the statistics are slightly different, but the conclusions are the same.)

This article made clear to me why long-term averaging, rather
than plunking all your money in at once, is often a wise thing
to do.  As for the wisdom of putting money into the market right
this very minute, well... I leave that up to the reader.

-Mark
From: rdg@hpfcso.FC.HP.COM (Rob Gardner)
Date: Thu, 9 Apr 1992 21:09:45 GMT
Subject: Re: PCFN Online Discount Brokerage Question
Organization: Hewlett-Packard, Fort Collins, CO, USA
Newsgroups: misc.invest


> I am considering joining PCFN Online Brokerage System offered
> on PRODIGY network.  Their commissions look very attractive
> and in addition you get a lot of other services for free.
> 
> I would like to get your opinion about the PCFN and experiences
> (good and bad) about trading with them.  

I joined PCFN a few months ago, and have been happy so far with it,
though I have only done 1 trade so far. The "other" services have
been pretty useless.

Rob
From: prabhak@cs.umn.edu (Satya Prabhakar)
Newsgroups: misc.invest
Subject: Re: Stocks newsletter. Netletter!
Date: 7 Apr 92 18:27:46 GMT
Article-I.D.: cs.1992Apr7.182746.28511
Organization: University of Minnesota, Minneapolis, CSci dept.


 (Lee Tjio) writes:
 (Satya Prabhakar) writes:
>>
>>In my opinion, buying individual stocks is absolutely
>>stupid unless you are so rich that you can buy a 
>>coupla thousand shares and buy a basket of stocks. The
>>turnaround commission on an average trade is about 4-5%.
>>
>>Satya prabhakar (satya@ssdc.honeywell.com)
>
>Depending on you visibility of the company you are investing in, 
>investing in individual stocks could be the smartest thing you do.  
>For example, if you are working for a company, and you KNOW that
>your company is getting multiple new contracts, you would be
>absolutely stupid not to invest in the company. 
>
>I do agree that buying a stock solely based on a recommendation
>is unwise.  However, if you have some insight of the company,
>it might not be such a bad idea.  I personally would not buy
>stock "Alibaba" which does something I don't understand, whose
>products I have never heard, and is recommended by "Ultimately
>the best of the best" company out of Sioux Center, Iowa. 
> 
>Lee

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!

   2. If one is investing in say 500 shars of a company that
      trades at $3, the commisions getting in and out will be
      about $50. That's more than 6% down the drain right there!
      Commisions kill you unless you hold a stock for 10-15 years
      when the ROI overwhelms the commission if the company survives
      that long.

   3. Then there is the increased risk of investing in a single
      stock no matter how optimistic your predictions are.

Satya Prabhakar
Newsgroups: misc.invest
Subject: Re: Canadian Investment info
From: barbon_m@eis.dofasco.ca
Date: 1 Apr 92 17:56:15 GMT
Distribution: na
Organization: Dofasco Inc, Hamilton, Ont. Can.
Nntp-Posting-User: barbon_m

In article <11297@cocksm>, cocksm@Software.Mitel.COM (Michael Cocks) writes:
> 
> 
> Investors:
> 
> I am seeking advice on Canadian Investment newsletters and Discount
> Brokers. I would greatly appreciate any comments and experiences on
> either/both of these two points.
> 
> I am aware of a couple of investment newsletters, however I am sure
> there are numerous others. The few that I am aware of are:
> 
>    Canadian Investor
>    Investment Reporter
>    Money Reporter

	I have found copies of some of these news letters in the public
	library.  You may want to get past issues to evaluate them.

> 
> The group that I represent will require information on both stocks
> and mutual funds.
> 
> I am undecided as to which discount brokerage to deal with. I am
> considering one of:
> 
>    TD Greenline Direct Trading

	TD Greenline currently is discounting AGF mutual fund commissions.
	However commissions isn't everything, especially when you need help
	with picking.  I would recommend talking to a full service broker.
	If you have a large amount of money, you may be able to get a break
	on the commissions.

>    Scotia Discount Brokerage
>    Marathon Brokerage
> 
> Thanks in advance
> 
> 
-- 
Max Barbon					Dofasco Inc.
(dofasco!barbon_m)       			1330 Burlington St East
(416)-548-4410					Hamilton, Ont. L8N 3J5 Canada
Newsgroups: misc.invest
From: bible@iastate.edu (Anthony E Bible)
Subject: Re: Correction is now
Organization: Iowa State University, Ames, IA
Distribution: usa
Date: Fri, 10 Apr 1992 21:30:33 GMT

In article <SDL.92Apr10130759@rigel.linus.mitre.org> sdl@linus.mitre.org (Steven D. Litvintchouk) writes:
>
>
>First, you *may* have made some money by investing in money market
>instruments or bonds with good yields.  Next, after the stock market
>drops significantly, there should be some nice bargains to invest in.
>Remember: if the stock market drops by X percent off a peak, then it
>must rise by 1 / (1 - X) relative to its bottom, just to break even
>again.  But if you were not invested during the drop, and invest after
>the stock market bottoms and starts rising again, then that factor of
>1 / (1 - X) represents profit.
>
>

	Market timing -- great stuff if you can get it.  I can only seem to
make that work on paper, after the fact.  If I try to do it in real-time, 
either the "bottom" turns out to be a pause in a continuing descent or (more
often) the "bottom" occurs above the price at which I decided to wait for it to
correct.
	But, your point is well taken and your math correct.  If it drops 50%
it has to rise 100% to get you back to where you are only down the commission
and the interest you did not receive by leaving it in the money market.  That's
the way it goes, first your money, then your clothes.

Regards,
tony
From: jprice@eecs.cs.pdx.edu (James Price)
Newsgroups: misc.invest
Subject: Re: Little Dollars to Invest...
Date: 5 Apr 92 15:10:30 GMT
Article-I.D.: pdxgate.5252
Organization: Portland State University, Portland, OR

>In article <1992Apr3.163446.13448@craycos.com> 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).  

   This isn't quite true. There are a number of discount brokers
who will be happy to buy you an odd lot of shares, for $35 or less.
The broker's charge would be only about 1/3 of the $100, and $65 of
the $100 would be invested. May I point out that hundreds of companies
have dividend reinvestment programs that allow a person who owns just
one share to forever sidestep the broker from then on. Check the
book _Buying Stock without a Broker_, for a detailed list.

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: henrik@stat.tamu.edu (Henrik Schmiediche)
Newsgroups: misc.invest
Subject: Money Market Funds
Date: 9 Apr 92 03:06:02 GMT
Organization: Department of Statistics, TAMU



     Hi,
I'm considering opening an Money Market Fund and I was wondering if I
could get some input from folks that may have experience in these. I
have the following questions:

Would you recommend a Money Market Fund as a primary checking account?
Secondary?

Which Money Market Fund do you recommend and why?

Specifically, do you have any opinions/information (outside of stuff found
in the prospectus) on the Declaration Cash Account from the Declaration
Service Company (?) and the Cash Management Fund from the Boston Company
Fund?

Any input/advice/experience would be appreciated. Thanks.

                                        - Henrik
From: root@sickbay.austin.ibm.com
Newsgroups: misc.invest
Subject: FIRE THE BUM !!
Date: 9 Apr 92 19:07:51 GMT
Organization: IBM, Austin

>Subject: Long term index options
>Organization: Hughes Aircraft Co., El Segundo, CA
>Every week in Barron's there are listings for long-term index options
>(LSW for S&P500 Dec. 93, etc.).  My broker (Waterhouse) says they don't
>exist.  Who is right?
>	George Tucker        tucker@kali.hac.com
>		Just say NO to incumbents.
                Just say No to stockbrokers !!  :)
 George;
 From an ex-broker to you. Yes the LEAPS as they call them exist and
 the broker probably does not make enough commission on them. THEY LONG TERM!
 he wants you to do short term trading, with high commision. WAKE UP !!
 and start using a discount broker. I could not make a living as a broker
 bacause I WAS HONEST !
  
   Andras (the contractor and trader)
Newsgroups: misc.invest
From: dow@nova2.stanford.edu (Keith Dow)
Subject: Re: Is IBM stock worth buying?
Organization: Stanford University
Date: Wed, 15 Apr 1992 02:24:36 GMT

>>IBM will shrink more than a factor of ten between now and the
>>end of the century.  
>
>Why do people insist on making such hyperbolic statements without any
>supporting evidence? Noting a book that is also filled with unsupported
>statements is not evidence either.

I added supporting evidence.  Read my whole post again.

>IBM made a fundamental business shift from the typewriter business
>to the computer business in the 50's-60's in an extremely successful
>manner. There is no reason why they cannot do the same again.

Where are they going to go from computers, cars?

>IBM has excellent people all around - excellent in sales, excellent
>in management, excellent in technical research and excellent in
>service. Yes there are problems. But they are seriously trying to do
>something about it which is more than can be said for most other large
>American corporations in trouble. This leads me to believe that IBM
>has at least as good a chance as any other troubled large American
>company to pull this transformation off successfully.

IBM has mediocre people in key places.  Their ability to generate good 
software is atrocious.  OS/2 is a bad product compared to Windows-3.1.
They have a long track record of bad software products.  Read the book I
referenced earlier for more history.

The mainframe is the dinosaur of the 90's.  Their management is very top
heavy.   They have too many yes men and yes women and can't innovate a thing.  
They were out manauvered by a thirty-six year old college drop-out.

Which large American companies are having problems and not seriously 
trying to solve them?

Enough said.