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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Haim R. Branisteanu who wrote (124328)9/20/2001 5:40:00 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
Haim, i believe Japan's role in this can't be overestimated. Japanese banks are under huge pressure due to the mark-to-market edict that forces them to disclose their true capital position by the end of the month. also, i think there are already several hedge funds in trouble, even though we don't hear anything about that yet. but the Bass margin call today may be a prelude to further large margin calls about to hit other big traders that are overleveraged.
admittedly though, the market appears close to capitulation, if it hasn't occurred already. nevertheless, i think even after the inevitable rebound from this crash, the bear market will not be over yet. it will be over when the individual investors i just saw on TV are NOT saying anymore "i'm not worried, it'll come back". at the bottom of this bear market, they will HATE stocks!
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