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To: Sun Tzu who wrote (753)	7/22/1999 12:21:00 PM
From: jttmab	Respond to of 10653

Yo to Sun, Sounds like your having a great time. <g> Though I'm not sure why you would visit the "largest rock in the world" when the Aussie women are making passes. Yes, you're a rock climber, but still....Confusing. The market is exaggerated somewhat today because of Greenspan's testimony, but the NAZ was up around 18% from mid-June to mid-July; so one would argue that a correction was in order. Best Regards, Jim

To: Sun Tzu who wrote (753)	7/22/1999 3:54:00 PM
From: Walter in HK	Read Replies (1) \| Respond to of 10653

OT Sun Tzu : There are about 150 000 Canadians in HK, most Chinese-Canadians . Canada let in quite a few, before and after Tianmen Square in 1989. Many studied and returned when it became clear the Handover will work.(The Mainland will behave, they want Taiwan !) Uof Toronto holds a separate graduation Ceremony in HK for about 130, Pres & Chancellor came, along with 4 guys to ask for donations of the HK rich. The owner of New World held the commencemnt addres, knows no word of English, but his sons do. He got an honorary PhD. When the Canadian Government suddenly required listing of world wide assets ("for statistical purposes", you are of course supposed to report WW income) ,the Real Estate values in Vancouver (Hongcouver or Vankong) dropped in half. Literally. Confirmed by one of those Billionaires who himself did not become a Canadian, just some family. BTW only takes 3 years in Canada and there is a sham going on, if you invest. Can you imagine, the Provincial Governments have guys in HK, pushing funds to facilitate this. Walter

To: Sun Tzu who wrote (753)	7/23/1999 12:57:00 AM
From: Frank Sheridan	Read Replies (1) \| Respond to of 10653

Hi Sun - here's the deal about the market drop, according to one market Cassandra. The short version of this guys lengthy dissertation is that Greenspan and the Fed have decided that the stock market is very overvalued, and so they are going to raise interest rates until they cause a "correction" sufficient to make the old guys at the Fed feel better about the DJIA. This particular Cassandra feels that the market will fall up to %50 over the next few months. The reason that I think there is any merit at all to his viewpoint is the fact that the Fed has just raised interest rates even though there is no evidence of either rising prices or rising wages. Wasn't the Fed worried about deflation several months ago? My take on the current market? Every dip I've watched for the last three years has been followed by a rally that takes the market to new highs. I don't see this trend stopping anytime soon, and I don't see anything stopping good companies from gaining in value. However, weak and overvalued companies are going to be pounded mercilessly. Of course this begs the question of what exactly is an "overvalued" stock when the average P/E on the NASDAQ seems to be something like sixty to one. P.S. If I had listened to this Cassandra guy three years ago I would have sold all of my CSCO stock then. Good thing I didn't listen to him.