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Ah, bonds, so totally rewarding


What mix of stocks and bonds should you own?

"People with 15 or more years until retirement should have at least as much in bonds as in stocks," says Charles Clough, Merrill Lynch strategist. "The total return -- yield plus gain -- will be better for bonds than for stocks this year and in 1999."

Want to buy the favorite stocks of the top-performing mutual fund managers? The list includes General Motors Corp., Charles Schwab Corp., Family Golf Centers and Storage Technology Corp. (Kiplinger's Magazine.)

Here are "don'ts" from the latest Dick Davis Digest. "Don't buy stocks on margin, don't borrow money to buy stocks, don't sell short, don't trade in options or commodities, don't speculate in derivatives (Harvard lost $1.3 billion on derivatives) and don't boost returns by buying junk bonds."

Wall Street watch: "Although some profit-taking is in order, so much money is flooding Wall Street that any pullback will be met by more-than-willing buyers." (Barron's.)

"Sooner or later there will be another leg down to new lows." (Barton Biggs, Morgan Stanley.)

"While the prospects of further rate cuts have dimmed, the Fed will continue to show financial leadership with more reductions next year."(Boston Advisors' Perspective.)

Pub Date: 12/02/98

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