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Technology Stocks : America On-Line (AOL)
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To: TraderTerry who wrote (28325)8/5/1999 9:22:00 AM
From: Paul Merriwether  Read Replies (1) of 41369
 
I agree. But it really is a more complicated issue. If you look back in the '93 micron vs korean dram dumping case, the consumers lost out in the _short term_(hihger DRAM prices) AND the _long term_(the koreans could not pay for their new process tech because of the tariffs(and that probably made it worse for them in '97). Ofcourse mu made out like a bandito in '95 as a result, before going back to its rightful place(and that was a great short!). It is unclear to me who was the clear winner in this case. Not us, because we had to finance IMF to bail out korea(AND pay higher prices), not the koreans because not only were their dreams of cornering the dram market were shattered but also because they could not pay for their cleanrooms.
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