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Non-Tech : Amway Asian (AAP)
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To: allan tordorf who wrote (5)12/18/1997 3:30:00 AM
From: William Harvey  Read Replies (1) of 17
 
All,

With a few days in a row of good Asian market gains, maybe it's time to do a little inventory on how well the market has evaluated AAP's exposure. Has AAP fared worse or better than the Asian markets as a rule? I took the percentage of the business that each country was doing in AAP and multiplied that by the amount that their respective stock market had declined since the first of the year. In other words, AAP started the year at 42 3/8 and if we took total revenue per country served and invested that in the market of that respective country you would find that there was an overall decline of 38.7% and had the price of AAP declined 38.7% we'd be at $26 per share, not $18. I'm not saying it's a hard and fast rule, but if all Asian markets had dropped 40% and AAP dropped 60% we're due for a correction. Technically, Amway is a hedge against economic paralysis which may be more of a factor now than when the Asian market plunge began. This is when it makes the most sense to become an Amway distributor. You can't always hit the 'snooze' button. People can pull themselves up by the bootstraps if they're willing to work and help themselves. That's what it's all about. I think we're going to see some real gains in distributor numbers this year. Asian distributors are going to plant the seeds for a business that's phenomenal! Asian governments need people to pull together and Amway is a vehicle for that need.

WH
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