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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: scaram(o)uche who wrote (8685)	3/18/2001 2:20:24 AM
From: Torben Noerup Nielsen	of 9719

Regarding tax selling, has anyone considered the possibility that much of the market is being driven down by Japanese investors having to dump shares? The Japanese tax year ends March 31. Moreover, there is a new rule in effect that - for the first time ever - forces financial institutions to price their assets to market instead of carrying it at acquisition value. Many of these institutions are carrying assets at grossly inflated prices and they will be forced to raise cash to remain viable. This means repatriation. Sometimes at any cost. No, I do not know for a fact that this is what is driving the market down. But I am guessing that there it is part of the problem. Torben

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