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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 163.10-0.7%Dec 16 3:59 PM EST
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To: LLCF who wrote (3336)11/9/1997 12:04:00 PM
From: Zeev Hed  Read Replies (1) of 10921
 
David: I have been reading the last few posts here and am still amazed to see that the current situation is viewed as a temporary blip on the screen. I have just read that from the 30 largets Korean "Conglomerates" a grand total of 7 have already bit the dust this year (filled for CH 11 or worst). This leaves the Korean with about $28 Bill of loans to these companies which no one knows if and when they will become current and how much will have to be written off. Of the total debt of about $200 Bill on the banks' book there, a full 20% is now classified as non performing. South Korea is not just a small country somewhere around the rim, it is the 11th largest economy in the world with a combined GNP larger than that of Indonesia, Thailand and Malaysia. A lot of their investments have migrated to other countries within the rim and these investments may have to be put into the pending class.

I for one still think that the recent decline in the semi caps is just the first shot over the bow and a lot more blood is going to run before it is ended. My time horizons "hope" for a bottom not too far in the future, but my "not too far" (around the middle of 1998) may not be soon enough for most posters on this thread.

Zeev
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