Investing during a Bear Market Message Board

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Strategies & Market Trends : Investing during a Bear Market

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To: Alfred W. Post who wrote (52)	11/9/1997 10:31:00 AM
From: Zeev Hed	Read Replies (1) of 226

Fred: The process of cutting the fat in corporate America has been going on for more than 10 years now, the question is whether there is more to cut. All these cuts kept us more and more competitive, alright, but, in the face of a 30% devaluation (and thus reduced labor costs) for some of our Asian competitors maybe there is not much room left to "fram out" corportae functions. One of the reasons our own competitive edge has increased is that we "devalued" gradually our dollar (it went from 220 yen/dollars to 80 yen/dollar before the recent run up to the mid 120' yen/$). Now that the pacific rim is using the same "weapon" (willingly or under the influence of intrinsic market forces), we may lose some of our competitive edge. Some economic dislocations in the far east are bound to impact the US. Furthermore, Europe is going to go through its own readjustment in the near future and that means economic dislocations to adding to the imbalances created by the "investment" binge in productive capacity in the pacific rim. Zeev

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