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Pastimes : Richard Ney and the Wall Street Gang
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To: BenYeung who wrote (23)11/24/1997 10:23:00 PM
From: ccryder  Read Replies (1) of 492
 
Back about two years ago I heard about the prices in Japan. I wondered how a bank could lend money on 100 year mortgages. Now I know they can't. Perhaps the Pacific rim fall is good for us as we were entering into historically high valuations. There is still the perception that stocks are the only way to build a retirement fund. But our expectations are running 30 - 50 percent or more annual appreciation. That level can't be maintained. So I hope your 3 weeks will satisfy the bear but I really don't think so.
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