Tom, points well taken. Without a "-g-" or a smiley in her note, I took Mary's comments face value.
<<In the long run, I do believe that the Asian economies will come back and end up being viewed as star-performers down the line.>>
I agree 100%. But, your last name is trader so you have a different objective. All I am saying is this is not a good time to "invest." I have had the unfortunate opportunity of reading a lot about how the earlier financial euphorias ended. Also, recently I have witnessed one each in Japan, India, and in the SE Asian countries, and S. Korea and Hong Kong. My knowedge of these events and the past events tells me one thing about all markets
People are the market. People behave predictably as a group - whether they are White, Black, or Brown in colour; or whether they are American or Asean or whatever. My be it is my misjudgment, but in today's US markets I see signs of 1989 Japan, 1990/1995 India, 1929 USA, and 1997 Thailand/Malaysia/S. Korea!
As a rule, until the debt liquidation and liquidation of excesses corporations occurs, it is not safe to re-"invest" in any market. We haven't even seen the severity of debt crisis in Japan yet. Malaysia is showing early signs of this. Korea has some ways to go. And, don't underestimate the "loss of wealth" effect on the economy of these countries and its subsequent effect on US corporate earnings. You can't solve these problems overnight regardless of what Rubin or Hashimoto say to public.
Take care.
-Mohan
PS: an interesting note for you:
exchange2000.com
Should anybody worry that the juniors are rapidly approaching a "no bid" status?......of course not.
And I will bet you a dime that we will get there (no bid status for many stocks) before March 98! |
