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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: j g cordes who wrote (583)12/6/1998 1:45:00 PM
From: Patrick Slevin  Read Replies (3) of 99985
 
<When Japan rose to its peak it launched a buying binge on the world which wasn't well received. From Rockefeller Center to most of Hawaii's real estate to Europe and South America, Japan Inc. was a formidable financial powerhouse. Their markets reflected that same confidence with extreme valuations. >

Everything is relative. Most Financial people I know guess the Japanese banks are cooked for the same reason you mention above. The Japanese bought all that Real Estate at a market top in Real Estate. US Investors were quite happy to sell.

For the same reason, many who track international markets don't think the Japanese have changed and will continue to make such errors.
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