We study the transformation under the full string theory duality group of the observable charges (including mass, angular momentum, NUT charge, electric, magnetic and different scalar charges) of four-dimensional point-like objects whose asymptotic behavior constitutes subclass closed under duality. We find that those charges fall into two complex four-dimensional representations of the duality group, T-duality (including Buscher's transformations) has an O(1,2) action on them and S-duality a U(1) action, The generalized Bogomol'nyi bound is an U(2,2)-invariant built out of one representation while the other representation (which includes the angular momentum) never appears in it. The bound is manifestly duality-invariant. Consistency between T-duality and supersymmetry seems to require that primary scalar hair is included in the generalized Bogomol'nyi bound, We also find that all known four-dimensional supersymmetric massless black holes are the T-duals in the time direction of the usual massive supersymmetric black holes, Non-extreme massless ''black holes'' can be found as the T-duals of the non-extreme black holes, All of them have primary scalar hair and naked singularities. (C) 1997 Elsevier Science B.V.