The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Magnatizer who wrote (21104)	9/8/1998 9:31:00 AM
From: Cube	Read Replies (1) of 79449

David, The CNBC guys were discussing that last week. I guess Russia was so in need of the foreign dollars, they made certain institutions an "offer they can't refuse." Nobody saw how valueless most Russian companies actually were (not quite the same 10K - 10Q filing requirements.) And nobody foresaw the crash of the Russian currency, which doubled the losses of the stocks in relation to the dollar. Couple that with the 10X margin, and the CNBC guys were talking about some of the balanced growth funds having gone to a net asset value of ZERO at different times last week! If you e-mail CNBC, they can give you the date and time of the interview segment in which the 10X margin deals were discussed. Cube

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