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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Patrick Slevin who wrote (644)12/6/1998 7:56:00 PM
From: j g cordes  Read Replies (1) of 99985
 
Whoa there Patrick, I never said the Japanese were more or less wise in their investments. Indeed that wasn't even the point, but rather a line of discusssion you branched into on your own.

My remarks were in response to someone who suggested the Japanese top pattern and ours is similar. I enlarged on that idea further suggesting patterns alone are not enough, one must also consider how much world political and economic clout a country has. A country's world power help sustain its markets especially in adverse conditions. The contrary can also be said, that a weak country will see its markets attacked. It has nothing to do with "what Jim said was only that many people did not worry about the Japanese purchase of these
properties, as they were overvalued to start with," because that's not what I said.

However on that point, there was for a couple of years a great deal of concern about Japan Inc buying US assets and assets around the world.. remember the 45 million dollar painting auctions. Many knew they were paying too much, and many tried to sell to the Japanese because they had the money then. Time has changed things dramatically.

The latest table turning I've seen was OPEC asking for financial restitution for lost revenues due to new laws on auto and industrial emissions... give me a break!
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