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Pastimes : Ask Mohan about the Market

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To: Joan Osland Graffius who wrote (12393)	12/26/1997 7:38:00 PM
From: Zeev Hed	Read Replies (2) of 18056

Joan, actually the Japanese banks own a bunch of stock at very low prices (or what was very low prices) , and at 14,000 or so on the Nikkei it gets back to their (average) cost basis and trouble starts when the Nikkei drops below. I believe that they used to mark to market at the end of each reporting period (and thus causing rallies just before the end of those periiods to have better prices on the book, or at least so the lore goes).In the last week BOJ allowed valuation based on the book value of the companies in which the banks and financial institutions are invested, and that is what I referred to in my post. Zeev

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