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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Don Earl who wrote (22689)6/15/1998 3:43:00 PM
From: dwight vickers  Read Replies (3) of 42771
 
(OFF TOPIC)

Don,

Paul covered things very well. The "flation" problem can be hard to get a grip of but devaluations cause inflation at home typically, and deflation to the countries you export to.

But with the currency collapse in SE Asia it seems that inflation is less likely to be a problem for Japan.

As far as an investment goes. I might look for a small cap fund of some sort in Japan. They're the ones who don't get the benefit of a lower currency. When the Japanese finally deregulate they should be a beneficiary. Today they're hammered to death.

I don't follow individual Japanese companies but have heard that stocks there are getting "very cheap". Some of the big exporters may be an exception.

Speaking of cheap. I heard that the NASDAQ is carrying a P/E of 70 X. If you take out DELL, MSFT, INTC, and CSCO, it's 96 X for the remaining 5200 companies.

Makes Japan valuations in 1989 look cheap.

Dwight

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