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Technology Stocks : Cymer (CYMI)
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To: John Gault who wrote (10886)12/3/1997 12:59:00 AM
From: Shakush  Read Replies (2) of 25960
 
The three primary elements of the IMF Korean prescription:

The price of having reform of the financial system jammed down their throats will include;

1) devaluation of the currency and high interest rates forcing a
2) sharp reduction of imports & in peter public's quality of life
3) exporting their way out of the bind & then raising cash to pay back IMF, US and Japanese loans by selling bonds (as they can be sold to someone, anyone).

The last being perhaps the most important. What are the most logical export candidates? Low end automobiles and trucks that nobody wants and everybody makes? Steel in a market awash in overcapacity? Shipbuilding could help a little. Old generation semiconductor chips? Or follow through with pre planned, financed and partially paid investments in new generation technology?

Rather than puking up my semi equips, I figure a better way to play the guaranteed reduction in SEA imports is to be short Choice Beef and feed grains and perhaps some food companies with significant regional exposure in the expectation the locals might feel compelled to modify their diet a little bit.
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