Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Mama Bear who wrote (3388)	10/5/1998 6:17:00 PM
From: Bill Wexler	Read Replies (1) of 4634

Have you noticed the following: The New York Fed president said, "I believe that we are in the most serious financial crisis since World War Two." "http://biz.yahoo.com/rf/981005/bg4.html James Cramer flip-flops for about the tenth time in as many trading sessions and on his column today complains how the tape looks "revolting" and that this is "gambling not investing". The long bond skyrockets on "panic buying" and short-covering. Brokerage and bank stocks - after getting chopped 50,60,70% in no time flat - start issuing downgrades of each other. cbs.marketwatch.com The same people on SI who wouldn't think twice about paying 100x earnings for some high-flyer tech stock threee months ago, won't touch things like the semi-equipment makers now that they are at the tail end of a down-cycle and the stock prices have been hammered into fire-sale territory. IMO, I haven't seen a better buying opportunity for U.S. equities since 1990. I'm also intrigued by many of the Japanese cyclicals. In the midst of all the end-of-the-world talk I read reports that some Japanese automakers reported unusually strong jump in sales and demand. The most loathed and weakest Japanese automaker right now is Nissan (ADR on NYSE: NSANY). I'm seriously considering adding it to my growing turnaround portfolio.

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