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RE: [RT] GEN: CONTROVERSIAL ECONOMIST....



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<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'>Norman,

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'> 

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'>I heard it as in that they shoot the soldiers first then come after the
generals!  <span
class=EmailStyle21><span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Wingdings;
mso-ascii-font-family:Arial;mso-hansi-font-family:Arial;mso-char-type:symbol;
mso-symbol-font-family:Wingdings'><span style='mso-char-type:symbol;mso-symbol-font-family:
Wingdings'>J<font size=2
color="#993366" face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:Arial'>   Your
right that in a &#8220;stock&#8221; market like we are in there is no place to hide.
Believe me, I know&#8230; I am at my max allocation for cash (which is 25%) and it
has not been fun. Of course for the trader that is not restricted to equities
there is usually other markets to rotate into such as perhaps the dollar. 

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'> 

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'> 

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'>Duke

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'> 

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'>PS and as far as the tag line goes&#8230; it is the genius of our marketing
folks. It could be worse, I could be our small cap manager who initially was
going to have the tag line of &#8220;smaller is better&#8221; however, internally we
changed it to size is not everything! <span
class=EmailStyle21><span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Wingdings;
mso-ascii-font-family:Arial;mso-hansi-font-family:Arial;mso-char-type:symbol;
mso-symbol-font-family:Wingdings'><span style='mso-char-type:symbol;mso-symbol-font-family:
Wingdings'>J<font size=2
color="#993366" face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:Arial'>

<font size=2 color="#993366"
face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:
Arial'> 

<font
color="#993366">"The Secret to the Market is
Rotation, Rotation, Rotation." The Frost Sector Rotation Fund is part of
the Frost Bank family of Funds. (CFR-NYSE)<span
style='color:#993366;mso-color-alt:windowtext'>

<span
class=EmailStyle21><span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<font size=2 color=black
face=Tahoma>-----Original
Message-----
From: Norman Winski
[mailto:nwinski@xxxxxxxxxxxxxxx]
Sent: Tuesday, July 23, 2002 3:08
PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] GEN: CONTROVERSIAL
ECONOMIST....

<span
style='font-size:12.0pt'> 

<font
size=2 color=navy face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:Arial'> 



<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>Duke

<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'> 

<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=navy face="Times New Roman">"The
Secret to the Market is Rotation, Rotation, Rotation." The Frost Sector
Rotation Fund is part of the Frost Bank family of Funds. (CFR-NYSE)<font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=black face="Times New Roman"> <font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=navy face="Times New Roman">Duke,<font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=black face="Times New Roman"> <font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=navy face="Times New Roman"> The
secret of identifying a major bottom relates to an old Wall Street adage which
goes "when they raid the brothel everyone goes including the piano
player".  The only rotation which will help you in a major stock
market bear market is rotation out of stocks until you see the "piano
player" in the pokey.  The piano player is symbolic of the segment
everyone thinks is exempt from getting raided. <span
style='color:black;mso-color-alt:windowtext'>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=black face="Times New Roman"> <font
color=black>

<p class=MsoAutoSig style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=navy face="Times New Roman">Cheers,

Norman<span style='color:black;mso-color-alt:
windowtext'>

<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font
size=2 color=navy face=Arial><span style='font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:Arial'> 





<p class=MsoNormal style='margin-left:75.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2
color=black face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma;
color:black'>-----Original Message-----
From: charles meyer
[mailto:chmeyer@xxxxxxxx]
Sent: Tuesday, July 23, 2002 2:41
PM
To: REAL TRADERS
Subject: [RT] GEN: CONTROVERSIAL
ECONOMIST....<span style='color:black;
mso-color-alt:windowtext'>

<p class=MsoNormal style='margin-left:75.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
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color=black>

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size=2 color=black face="Courier New"><span style='font-size:10.0pt;font-family:
"Courier New";color:black'>Group-<font size=2 color=black
face="Courier New"><span style='font-size:10.0pt;font-family:"Courier New";
mso-fareast-font-family:"Courier New";color:black'>

This guy; who lives I believe in Dallas; wrote some book a few years back
explaining various historical economic cycles.  One of these ideas was
that
the U.S. economy was facing a deflationary environment.  His book came
out
just at the wrong time--1997 to 1998 time frame I believe--just when the
markets took off to the upside.  I recall visiting his web site which
contained
a great deal of information.  Does anyone here recall this guys name;
or his
web site address?  Thanks.

chas


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