ELA, Volume 9, pp. 21-26, February 2002, abstract. Positive eigenvalues and two-letter generalized words C. Hillar, C.R. Johnson, and I.M. Spitkovsky A generalized word in two letters A and B is an expression of the form W = A^{a1} B^{b1} A^{a2} B^{b2} ... A^{aN} B^{bN} in which the exponents are nonzero real numbers. When independent positive definite matrices are substituted for A and B, it is of interest whether W necessarily has positive eigenvalues. This is known to be the case when N = 1 and has been studied in case all exponents are positive by two of the authors. When the exponent signs are mixed, however, the situation is quite different (even for 2-by-2 matrices), and this is the focus of the present work.