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Technology Stocks : Softbank Group Corp
SFTBY 52.80+5.5%Nov 26 3:59 PM EST
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To: michelda who wrote (4903)4/21/2000 1:33:00 PM
From: Seeker of Truth   of 6020
 
Michelda, you've backed up some of your points quite well.
Thank you. What you say now makes good sense. The institutions have dumped it before March 30. They don't buy back now because of the recent panic over Hikari and the U.S. Nasdaq. They will buy it back sooner or later. When they do so the brokers will one after the other start recommending it, first because the institutions may control or have good relationships with the brokers and second because the buying by the institutions is a signal to the brokers that it's time to get into the stock again.
If we divide 50 billion dollars by the number of shares of Softbank outstanding, i.e. 110 million we get about 460 dollars which is in the same area as the stock price,
I'd like to add a different point of my own. The old economy in Japan is really quite sick. What else is there to buy in Japan except the new economy stocks? There isn't a Merck or a Walmart there. Take a look at Sony, which in many ways is a great company. But the return on equity is small. A very knowledgeable Japanese friend and I were talking about the promising companies in Japan. We mentioned Toyota, Kyocera and Softbank. The list was kind of short. In other words, what else is there to buy?
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