JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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To: Step1 who wrote (1053)	5/28/1998 7:39:00 AM
From: Elmer	of 3902

I think NEC is ok. What I'm really interested in is the banks. While I think its too early, I'm watching Bank of Tokyo (MBK). It reminds me of Citicorp in 1989. If you get a Value Line, Citicorp's stock began to unwind in that year and declined from $32 to $11. It ultimately traded at about one half book value and one half revenue per share. Bank of Tokyo's book value per share is about $6.20. So, its still high. But if it starts to trade down to book value (it's $10.50/sh now), I'll start buying it and add to my purchases on further declines. Citicorp's stock bottomed in 1991 at $8.50/sh about the time Ross Perot said it was bankrupt. It's $150/share today. So, MBK goes on my watch list on the same day that Standard & Poor's puts it on its watch list. Hope it continues down. David

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