To figure out Perot's game, though, you have to understand what chips he's playing with. Most probably, Ross Perot owns more bonds than any individual in America. Simply put, his politics are about preserving and augmenting the value of his billions in bonds. According to Citizens for Tax Justice's Robert McIntyre, only about eight percent of Perot's holdings were held in any U.S. common stocks at all. Both create a demand for credit.
More borrowing sends interest rates up and bond prices down.
Clinton's commitment during the presidential campaign to a big economic stimulus program must have scared Ross. The bond markets, as Clinton kept telling us, were ecstatic with the change in direction. As yields dropped, bond prices reached all-time highs. According to Fidelity Fund's Virginia Marans, municipal bonds have grown in value at an annual rate of 13 percent. Which leaves the 11 percent of his portfolio invested in real estate.