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Strategies & Market Trends : Fidelity Select Sector funds
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To: Julius Wong who wrote (3538)3/16/2001 8:20:22 AM
From: Dan P  Read Replies (1) of 4916
 
Julius:

As you know, the concern about the Japanese banks is that within a week or two, they will have to mark their assets (including stocks of other companies that they own, that are way down), to actual market value, making their assets much lower, and that they will be further downgraded. Remember that in the 80's Japanese banks were very important in the expansion of Asian economies: the question is that if several fail, how will this impact the rest of the world, including US banks. I don't know the answer, and I guess time will tell.

I hope that you are right re:techs. I think that it may take a longer timespan for investment interest to again turn to the techs, based on past experience. Maybe the very rapid moves up and down have changed the time span during which stock markets can react, but you can't change the economy that fast. If we are in a recession, it will take many months for a turnaround to occur.

Regards

Dan
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