Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: CalculatedRisk who wrote (6554)	11/6/1997 4:24:00 PM
From: Eric Klein	Read Replies (1) of 9285

I agree. That seems to be the consensus of opinion. Earnings growth has slowed or reversed. The past earnings growth seems to be related more to the cost of money than to any "New Paradigm". Another factor in the equation is the collapse in SE Asia. Many of the pundits say that it will not hurt the US that much, because the US is not that dependent of these markets. However, Japan IS dependent on these markets, and the US IS dependent on Japan. There's also some speculation that as Japan suffers they will have to withdraw some of their investment in US Govt debt. I don't quite understand why that might be, but if they start pulling back, it will be hard on US debt and ultimately equity markets. If this is so, and as investors come to this realization, the market will have good reason to correct.

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