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Strategies & Market Trends : Waiting for the big Kahuna
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To: Investor2 who wrote (9434)11/9/1997 9:56:00 PM
From: Tommaso  Read Replies (1) of 94695
 
Well, my goodness, who knows?

But the Japanese p/e ratios are still much too high, and I don't know what can pull their companies back into the kind of growth and profits they used to enjoy. Even after a 70% decline they are still currently overvalued.

Something I read recently suggested that if the market drops below 15,000, the insurance companies and banks that hold much of those stocks will have to declare bankruptcy.

With regard to the US markets, it just seems to me that a failure of the Japanese market to revive will encourage withdrawal from US equities as well--that is, the morality play of Japanese stocks will continue to show what happens with overvaluation. It gets corrected. And not in one day and 554 points on the Dow.
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