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To: Follies who wrote (40247)	6/16/2000 1:50:00 PM
From: Lucretius	Respond to of 42523

Nikkei will fall when the dollar does. remember that they sell all their sh*t to the US.. look at SNE. most of those jap ADRs are headed back to just above their 98 lows, imo. but the NIKKEI will NEW lows in yen i suspect. i'd wait and buy them post crash

To: Follies who wrote (40247)	6/16/2000 2:02:00 PM
From: LLCF	Respond to of 42523

<if I buy the Japanese WEB (World Equity Basket) it will go up if the dollar falls against the yen (assuming no shares movement). If I buy the Profunds Japan which mimics the Nikei, I will not gain if the dollar falls and shares stay the same. How come?> The WEB is structured so that you get dollar returns on those stocks. Many prefer the later, because they want to watch the particular foreign market on their screen, and if it went up 2%, for example, they want to know they made 2%. Warrant trading in Europe will structure either approach depending on what the client is perceived to want. DAK