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Technology Stocks : Cymer (CYMI)
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To: John McCarthy who wrote (6508)10/25/1997 6:06:00 PM
From: D.J.Smyth  Read Replies (1) of 25960
 
One last point John, if you care to respond: The Japanese are NOT underemployed. They have an unemployment rate of about 3%. The Japanese people DO NOT invest in their stock market as a matter of investment principal. The Japanese have been selling everything they've been making, their unemployment rate has not gone up, and the Japanese people continue to save 20% of their income (in life insurance, bank C.D.s, etc. - the lowest possible return vehicles). Institutions even avoid investment in their own Japanese markets. The stock markets in Japan are controlled by a few large banks and the government.

Comparing OUR market with the Japanese market is not a fair comparison. There has been a good deal of money made in our market; wealth yeilds wealth. In Japan there has been no money made in their market for several years now; no wealth yeilds no wealth. You can not create wealth in Japan until you create demand for their markets. The Japanese companies and people are doing fine. They don't give a rats a.. about their stock market.

The same statements regarding overcapacity were made in Decmeber 1995 and the box makers stock fell precipitously Compaq fell from $52 to $38 (pre split). The same comments were made last year at this same time and the box makers stocks fell again. Is this another such time?
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