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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.390

-0.3%

Nov 7 9:30 AM EST

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To: Ron Bower who wrote (932)	8/28/1998 9:49:00 AM
From: jmt	of 1418

Ron: Thank you for the excellent summary on the HK dollar and intervention. I was under the impression that the Government was subsidising the banks when increasing rates, but this appears not to be so. Points made that this will only work short term are true. The hedge fund operators are not stupid, and they obviously see deteriorating fundamentals. This will be an interesting battle of the Titans. The Barrons article linked the health of China to the Strength of the yen, obviously for competitive reasons. In one of your earlier messages you stated DSWLF cash was OK as it was in HK. Are we sure of that? Might it be in the US. I do not know if there is a way to hedge (protect) HK to US as it is therotically pegged. Finally, I am aware of the strong financial ratios Deswell supports, however this market is now being drive by sentiment and physcology rather than fundamentals. IMO there are more US based companies with similar fundamentals today than in a long time past. Deswell seems to move only near quarter ends. I will not add to my position here (even if I had any cash to do so) until the global situation stabalizes. jmt

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