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 148.83

+3.9%

Nov 19 3:59 PM EST

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To: Ramsey Su who wrote (6082)	6/29/1998 10:52:00 AM
From: Katherine Derbyshire	Read Replies (3) of 10921

>>the LTCB numbers are obviously all suspect. As of end of Mar, they supposedly have a unrealized securities loss of 240B yen. That alone make the 26 trillion yen asset a blue sky number. How much more "unrealized" stuff are in the books?<< When Hokkaido Takushoku Bank failed last fall, it turned out to have 8 times the bad loans previously reported. Similar problems at LTCB would cause a large fraction of their assets to evaporate. Reputedly only 69% of disclosed bad loans are covered by reserves, too. Interesting article on the subject in today's WSJ, page A12. Besides the above statistics, the article notes that LTCB lost more than $2 billion last year (pre-tax), on revenues of $9.54 billion, and its stock is essentially worthless, having fallen from 600 yen last September to 50 yen last week. Katherine

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