Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 150.32

+5.4%

3:59 PM EST

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To: Mason Barge who wrote (4902)	2/20/1998 7:36:00 PM
From: spiny norman	Read Replies (1) of 10921

Mason, you bring up an excellent point about the US/European equipment companies being relatively better off than their Japanese counterparts. That is another (favorable for the US) difference between this cycle and the one that bottomed in '91-92. Back then I recall that many Japanese cos. had access to capital on very favorable terms because there was huge demand for Japanese convertible debt coupled with stock warrants. (Everyone bought them because everyone knew that the Nikkei at 30,000+ was a bargain <g>) You would constantly see Japanese debt offerings with coupon rates of 1/2-2%, at a time when a US company would be paying 7-10% for their capital. Now the current corporate cost of capital is a little more even. regards, spiny

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