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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 148.32-3.3%Nov 14 9:30 AM EST
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To: Ian@SI who wrote (7481)1/7/1999 2:38:00 PM
From: Katherine Derbyshire  Read Replies (3) of 10921
 
What are the Koreans buying all this equipment with? Even after the Hyundai-LG merger and debt restructuring, for example, the combined company will still have a 2:1 debt-to-equity ratio.

I'm not saying they won't proceed with massive capacity builds, or that they won't be able to get financing. I'm just remembering that it was massive capacity overbuilding (remember 1995?) that got us into this mess in the first place, and so I'm skeptical of any recovery driven primarily by the chaebols. They've behaved suicidally in the past, and have shown no real signs that they won't do so again.

Investor beware,

Katherine
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