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1)Treasury was bidding above and over fair market price. These old
bonds aren't exactly that liquid. 2)Suppose there are tax advantages
to booking a capital gain as well. 3)If you want to hold a long
bond, that 11% bond was probably issued sometime between 1981-1984.
It has only 10 years to maturity and given the healthy coupon, its
duration is probably about 5 years. Remember these funds go by
average duration on their portfolios. 4)Who wants to own a high
coupon bond during times when the front end yield is so low? You
wind up reinvesting that big coupon at 1.5% money market. May as
well buy a low coupon bond to back load your coupons.
--- In realtraders@xxxx, "bondo92677" <bruce.larson@xxxx> wrote:
>
>
>
> The traders at Golden Sex salivate everytime AJC blabbers so they
can
> get dump their stock.
>
>
> --- In realtraders@xxxx, "Norman Winski" <nwinski@xxxx> wrote:
> >
> > ----- Original Message -----
> > From: "M. Simms" <prosys@xxxx>
> > To: "RealtradersList" <realtraders@xxxx>
> > Sent: Sunday, January 13, 2002 4:41 PM
> > Subject: [RT] This week's Barrons "To the editor"
> >
> >
> > > from the letter: Highly paid Abby Joe Cohen's prediction for
Dow
> Jones
> > > 13,000 on Dec 31st, 2001 badly beaten BY A NYC STREET BUM who
> called for
> > > 10,000 !!
> > >
> > > Wonder if Abby Joe and Elaine Gazzarelli are living together ?
> > > Those two should be "Trading Places" with the bum.
> >
> > The Empresss has no clothes. Abby Jo's days are done Wall St.
> Gurus, on
> > average last about 6 years. Elaine Winky G. got the boot
circa '94
> and Abby
> > Jo was her successor. Simple math gives the result. Now the
> question is who
> > is the new Guru in post bubble America? Roger Babson?
> >
> > Cheers,
> >
> > Norman
> > >
> > >
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >
> > >
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